The price of bitcoin has reached a low of $96782 and has rebounded slightly. The digital currency is currently trading at $98434 down -$1739 or -1.71% on the day.
Looking at the hourly chart, the price moved below the 100 and 200 hour MAs yesterday and then corrected higher, reaching the 200 hour MA (green line on the chart to high). Sellers resisted the level and pushed lower. The 200 hour MA comes in at $102.670. Staying lower will keep the sellers in check technically at least in the short to medium term.
The next bearish target comes in at $94306 and below that the 38.2% move up from the November low. That rate comes in at $92,442.
