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Bitcoin Fails Second Hurdle by scaredycatguide

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· @scaredycatguide ·
$3.77
Bitcoin Fails Second Hurdle
About a day ago I mentioned how  Bitcoin passed its first hurdle to the upside.  Unfortunately the same cannot be said for the second one.

## 200 Day Moving Average Proving Pesky

![Capture.PNG](https://cdn.steemitimages.com/DQmPvSHyaYHPNPSr1f7UFrUroYKCERJ9xkyxf5jwvs9TNdd/Capture.PNG)

As you can see in the chart price pushed above the 8400 and then looked like it was gonna make a run before getting smacked down by the 200 day moving average.

Downside support still remains at the 7600 area while the upside resistance is that 200 day moving average.

We are in an interesting little space with price right now and could see more consolidation if price tests 7600 and holds.

Consolidation is never a bad thing as it helps create a base to rally from to higher levels.
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@leo.voter ·
Thank you for posting from the https://steemleo.com interface 🦁
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@realestatecoach ·
Know we are in an area where we should wait and see.  However, I loaded up just because I think the long term picture is still too great.
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@scaredycatguide ·
Agreed.  Long-term and short-term have different views.  I had added at 8400 and 7800 to my long-term position.   Hoping to add  more at 7600 ;-)
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