Bitcoin also getting hammered in trading today
Down over 6% on the day, but finding support targetsThe price of bitcoin on the coin base exchanges also getting hammered. It is currently down over $732 at $10,641 and $0.75. That's a decline of about 6.4% on the day.
Looking at the daily chart above, the price low did test swing levels going back to February of this year. The February high price reached $10,522. The high price in June reached $10,428. In July, those swing highs were broken. In early August the corrective low stalled ahead of those levels at $10,546. Today's low reached $10,469.38- within those swing levels.
There is some buying against the support level. The price is now down $667 as I type.
Going forward, if the swing area between $10,428 and $10,546 is able to hold support, the buyers are still in control. If the level is broken however and the rising 100 day moving average at $10,226.47 is also broken, that could lead to further selling in the Cryptocurrency.