Bitcoin below the 100/200 hour MAs
The price of bitcoin has been trading in an up and down range near the 5 1/2 month highs (going back to mid-August).
The range since January 20 has seen the digital currency trade between $22,334 and $23,954. In between those extremes (see Red box in the chart above) sits the 100 and 200 hour moving averages (blue and green lines) which are now moving sideways.
The 100 hour moving average (blue line) is at $23,180.14. The 200 day moving average (green line) is at $23,058.37.
The current price is trading below those levels at $23,005. Stay below the moving averages tilts the short-term bias more to the downside. Move back above and the bias shifts to the upside.
