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!
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.
