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Bitcoin trips stops below technical level and rebounds
A little earlier this afternoon an addendum to the headline on the USD/JPY noted the further slide in BTC. Well, that did drop below its 21 day moving average for the first time since November 6 and in the process it clearly tripped stops below that level. For your guide that 21 day moving average, which is shifting all the time due to the expansive price action, is right now in place at 94,249. The low seen subsequent to the breakdown was set at 93,601. However, it has bounced quite markedly off that low since and lifted back above 95k. The took it almost $2000 higher, close to 95,500. That is a clear indication that it was stops which forced the initial move lower. BTC is right now at 95,305
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