Bitcoin bounces near its 100 hour moving average keeping the bullish bias

Bitcoin bounces near its 100 hour moving average keeping the bullish bias

100 hour moving average at 46,311

The price of bitcoin dipped earlier today and in the process got very close to its 100 hour moving average (blue line). That level currently comes in at $46,311.57. The low price today reached $46,300 (the moving average was lower at the time).

100 hour moving average at 46,311_

The price of the digital currency is currently up around $893.99 at $47,835.45.  The all time high price was reached early in the session of $48,912.  

Get above that level and it’s just a small step to the $50,000 level.

What we know from the technicals is that the 100 hour moving average will be eyed as a barometer for bulls and bears.  Admittedly earlier this week, the price did dipped below that blue line, but could not sustain momentum.  Yesterday, the price worked toward the level but found early buyers.  

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