Bitcoin keeps the bulls more in control
A run to the highs today ran into sellers though
The price of Bitcoin on Coinbase is trading up about $81 at $5318. Although higher, the pair did run up to $5407 and backed off about $100.
The bullish news, however, is that
- The price is still higher on the day.
- The price is still above the 100 hour MA (although it has traded above and below that MA today and yesterday. The 100 hour MA is at $5287.40
- The price is still above the 200 hour MA (green line) at $5221.41. The price has not traded below the 200 hour MA since April 16).
If the price is to tilt more to the downside, a break of the 100 and then 200 hour MA will be eyed. Until then, the buyers remain in control.