Below the 100 hour MA. Moving away from 100 day MA...
The price of bitcoin is down about $230 currently at $8289. The high today traded at $8561.87. The low reached $8103.33. Looking at the daily chart, the fall is putting some distance between the 100 day MA which is at $8836.85 today. Yesterday, the high stalled near that level at the high. The last 6 days have closed below the MA level as well.
Drilling to the hourly chart below, the fall yesterday started near a topside trend line (see red circles in the chart below) and fell below the 100 hour MA into the day's close. Today, that 100 hour MA (blue line in the chart below at $8525.35) was a ceiling, and the price moved lower. The 100 hour MA is now a risk level for the sellers. Stay below keeps the bears in control.
The low today has traded at the lowest level since April 19th. The price is off the lows and moving below the lows today will be eyed by sellers now. There were 2 lows (see hourly chart) at the lows which may give some sellers some cause for pause (and attract buyers on the dip with stops below).
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