The price of bitcoin is continuing its run to the downside and has now traded below the rising 200-hour MA at $96883. The low just reached $96573. Traders will be eyeing the level for bias clues. Stay below is more bearish. Fail on the move below, and it could signal a short term bottom.
On the a break lower, the next targets come in at $94,306 followed by a swing area and 38.2% retracement between $92.092 and $92.442.
Earlier today, the price moved below the 100-hour MA at $99059. Last week, the price stayed above that MA on the way to the high reached earlier today. If the buyers are to take more control, getting and staying above that MA is needed to be broken.