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Bitcoin technical: Bitcoin rallies to 200 hours of MY. Pit. — Forex Stock Trade




Bitcoin technical: Bitcoin rallies to 200 hours of MY. Pit.




Break above 100 hour MA today, gave the buyers the go ahead to take the price higher. The price of bitcoin on Friday stalled near the 61.8% and the swing high from June at $3000. The low reached 2975 (see chart below).

The snap-back on Friday, took the price toward the key 100 hour MA (blue line on the hourly chart below)..
Today, that 100 hour MA was broken and who has given the buyers to go forward to take the price higher.
The momentum took the price to 200-hour MA on the hour chart (green line) currently at 4094.19. The vendors were a function of the level and we are seeing a lower turnover. As I type of trade to 4007 zone.

What is the next?
The race today was to return to the top of the middle of the move down from the September 1 high. Stay above this level (3948.23) is more optimistic (risk for longs). Move below and the 100 hour MA at 3754.47 (blue line on the hourly chart above) may be retested.



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