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Bitcoin trips stops below 200 day moving average?
Earlier today Bitcoin took a dive and that sharp fall saw it slide below its 200 day moving average (in place today at 58,405). There have been a number of pundits looking for reasons behind the move, but all of those look pretty flimsy to be honest. The bottom line is someone offloaded a bunch of BTC and probably did that because they knew they had stops in place lower down? The low seen a little earlier this morning was set at 57,949, but it has rebounded off that low now. The rebound high seen so far has been set at 59,110, but is a little below that high just now, currently trading at 58,980 and there will surely be more to add on this one as the day unfolds
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