The price bitcoin is ping-pong between some moving average levels on different time period charts.
Looking first at the daily chart, the price rise yesterday saw the pair extended above its 100 day moving average (blueline currently at $44726) but found willing sellers after the break failed.
Drilling down to the hourly chart below, the price today has move down to test its rising 100 hour moving average currently at 42256. The price dipped briefly below that level on the last hourly bar but has seen cause for pause near the level (at least for the moment).
Those two moving averages will become risk and bias defining levels going forward. Move below the 100 hour moving average at $44256 would increase the bearish bias, while moving above the 100 day moving average that $44,726 would be more bullish for the digital currency.
The battle is on. Look for a break and run of either moving average extreme.
