Still no love in Bitcoin land
Rally yesterday stalls. Moves back below 100 hour MA and stays below
There is still no love in Bitcoin land.
The digital currency tried to rally yesterday with the price getting above its 100 hour MA (blue line), but the price rise stalled ahead of it's 200 hour MA (green line - has not closed above since October 3) and moved back below the 100 hour MA. The correction in the NY session high stalled against the MA line. That has led to more selling.
The price is down -$122 at $3317 or -3.5% on the day. The lows for 2018 at $3256 and 3212.00 on the Bitcoin exchange are in the markets sights now.
Looking at the daily chart, the price closed the year at $14067. The high price for the year reached $17178 on January 6th. The fall is about $10,749 or 76%. The September 2017 low at $2975 is a target below from the daily chart. Ouch.
Let me guess? The selling is for year end tax reasons....