Bitcoin ends week on a bearish note
Well weeks never end with Bitcoin but price is lower today
The price of Bitcoin on Coinbase is ending the week on a weak note. The price on Wednesday and Thursday reached above the 100 (blue line) and 200 hour MA (green line in the chart below). Staying above would be more bullish. However, the price could not stay above those lines today.
The digital currencies trading currently at $3964. That is down $216. The 200 hour moving averages currently at $4039.17. The hundred hour moving averages at $4000.56. Stay below is more bearish.
In reality it may be near the end of the week for US equities, bonds and even currency markets, but the price of bitcoin trades 24 hours a day 7 days a week. Last Saturday and into Sunday, the price tumbled lower and reached the low price for the week and year at $3456.78. The move into the weekend is tilting the bias back to the bearish side into the weekend.