Bitcoin tries to restart after the 25% plunge lower today

Bitcoin falls 25% from the high..

The price of Bitcoin moved up by about 22% to the high yesterday. Today from the high the price fell 25%.  Wow!

Bitcoin falls 25% from the high..
Technically, the first low (going into the close yesterday) stalled at the 100 hour MA (blue line in the chart above).  There was a sharp run back higher but the 2nd run lower cracked the 100 hour MA, the 200 hour MA (green line) and finally stalled near a lower trend line at $10300 (the low reached $10330). 

What now?

The price is trading above and below the 200 hour MA at $10809.76.  The 50% midpoint from the June 10 low comes in at $10688.61.  If the price can't stay above those levels, the sellers remain more in control. If the price can get and stay above, a move back above the 100 hour MA at $11636.83 will need to be breached. 

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