Bitcoin on the hourly chart found sellers ag the 200 hour MA
The price of bitcoin is moving back below the $47000 level. It currently trades at $46538.
Looking at the hourly chart, the price fall has taken the price below a swing area between $46886 to $47111. That level will be close resistance now. Stay below would keep the bears in full control.
What has given bitcoin more of a bearish bias is that the price high today did find sellers near the 200 hour MA (green line). Bearish move.
Also of significance for the sellers is that the price on Sunday moved above that 200 hour MA and raced up to the 50% midpoint of the move down from the November 30 high at $50608.75. Sellers leaning against that level was also a bearish tilt.