7 days below the 200 day MA
The price of bitcoin on Coinbase has closed below the 200 day MA for 6 consecutive days. Yesterday, the price traded above and below the MA line, but still closed below the MA line. The 200 day MA is at $8447.12. The close yesterday was at $8375.98.
Today the high has reached $8415.98. That is within $32 of the MA line, but stayed below. The low today reached $8168.85. We currenty trade at $8245.95.
For traders, getting and staying above 200 day MA is more bullish. Until then, the sellers remain in control.
On the downside, on the berak lower at 7712.45. Below that the June low at $7427 will be eyed. Below that, and the downside opens up more.
ON a break (and close) above the 200 day MA, the July lows at $9071 will be targeted. Above that,, $9321 is the end of August low. Then $9470 willl be eyed. Above that and traders will be looking toward the trend line and 100 day MA (blue line) at $10392
Bitcoin moved below its 200 day MA last week for the first times since