Sellers leaned against the 100 hour MA on the last test today
The price of Bitcoin on Coinbase is trading trading down $-1250 at $31,465. The low price reached $30,830. The high price today extended to $32,713.90.
Looking at the hourly chart above, the price traded above and below its 100 hour moving average early in the session, but was able to extend lower toward the low price from Sunday’s trade at $30931.21. The subsequent rise did find sellers leaning against the 100 hour moving average at $32,562. Staying below that level has tilted the bias more to the downside, but the price still needs to crack below Sunday’s low and today’s low at $30,830.
Sellers are in control below the 100 hour moving average. More work to do on the downside.