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Bitcoin continues to follow a clues from a hourly MAs

Forex, video, latest March 6, 2021 3:01 am

Sellers lean against 100 hour MA now

Looking at a hourly chart of bitcoin on a Coinbase exchange is showing up also down price action, but also some respect to a 100 hour MA. 

Sellers lean against 100 hour MA now 

Going return to February 23, a price action has seen some ups also downs, but a MA provided a bias clues. 

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On a way down from a Feb 23 high where a price tested a 100 hour MA also found sellers, there were two another tests also stalls where sellers leaned.  

Finally on March 1, a price broke above a 100 hour moving average also then retested it again on March 3 before heading to a highs for a week near a 61.8% retracement of a move down from a February 22 high at $52,502.92.  

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a subsequent fall, initially found support buyers near a 100 also 200 hour moving averages, but then a price fell below also during trading today, a moving average has been tested twice with sellers leaning against a level on each occasion.

So if a pattern continues, us should see a sellers more inside control as long as he price to remain below a moving average. If it moves return above, all bets are off for a sellers. a buyers assume control once again.  

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Looking return over a last seven days, a low for a week occurred on Sunday at $43,016. a high for a week reached $52,666 on Wednesday.

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