Bitcoin stays below its 100 day moving average over the weekend

The price of bitcoin Bitcoin Bitcoin is the largest and world’s first digital currency launched back in 2009 by the entity, Satoshi Nakamoto. Being a digital currency, a defining feature of Bitcoin is that it functions without a central bank or single administrator. Rather, Bitcoin instead can be sent by peer-to-peer (P2P) networking, which is itself absent of any intermediaries.Instead of being a physical currency, Bitcoins represent pieces of digital code that can be sent and received across a kind of distributed ledger n Bitcoin is the largest and world’s first digital currency launched back in 2009 by the entity, Satoshi Nakamoto. Being a digital currency, a defining feature of Bitcoin is that it functions without a central bank or single administrator. Rather, Bitcoin instead can be sent by peer-to-peer (P2P) networking, which is itself absent of any intermediaries.Instead of being a physical currency, Bitcoins represent pieces of digital code that can be sent and received across a kind of distributed ledger n Read this Term over the weekend saw the price trade at a high price of $42,405.01 on Saturday, and a low of $40,930.20 on the Sunday. The digital currency is trading in a narrow range in the new trading day today.

Looking at the daily chart, the high price on Saturday stalled ahead of its 100 day moving average as did the high price on Sunday. Stay below that moving average kept the sellers in play despite the rise last week that saw the price move higher from $37,567.

Technically, it would take a move above the 100 day moving average (and stay above) to give the buyers more control.

The price has not closed above its 100 day moving average since December 2. On March 2, the price did trade above that moving average only to fall off and close back below the level.