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Bitcoin lower today highlighted by technically divergent price action
Since the last update here on BTC, the lead cryptocurrency has fallen further. Earlier today Bitcoin came close to falling below 62k. The low seen was set at 62,142. The failure to lift above 65,494 has maintained the run of lower highs and that has defined the price action since it peaked above 72k on April 8. Meantime, the 50 day moving average is still falling and in place this morning a bit beyond that level, at 65,630. Conversely, the 100 day moving average is still rising and in place this morning at 60,907. Hence, we have clearly defined divergence there and the price action in the middle of those two levels is slightly more skewed to the downside this morning. The high seen earlier today was set at 63,176. Bitcoin is currently trading at 62,720
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