Bitcoin technical: Bitcoin is consolidating after the run up yesterday




Buyers and sellers fight outBitcoin ran until yesterday. Exchange above September 6-8 high-4692, but the stopping of the advance of the all-time high at 4921 zone. The high yesterday reached 4869.

Today, the pr
1fd0
the ice has been to take a pause and consolidate.
Looking at the 5-minute chart below, the pair has dropped below 100 and 200 bar MAs on the 4805 area. That turned the bias intraday is a little more negative on the technical level. Stay below is more bearish, with a break above to turn the tide of higher return. A move below the trend line and the low of the day (to 4760 and then 4739) would have traders looking at the 4692 area (swing high of Sept 6-8) and 38.2% of the move up from Friday, swing low. That comes to 4657.27.
A return to the top of the MAs to the 4805 region, would be likely to result in the signal «signal» for a continuation of the progression on the failure of the break. The top-4868, and then all-time high at 4921 will be the next upside targets.

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