Buffet is certainly no fan
Warren Bufffet (and his right-hand man Charlie Munger) bashed bitcoin this weekend, and the price rotated to the downside. See Adam's post from earlier in the session.
The price is down about $100 on the day at $9416 currently. The high price over the weekend peaked at $9948 before moving back lower.
Technically, the price high stalled ahead of its 200 day MA at $10,109.46. In April and again back in March, the price tested that MA line (green line in the chart below) and backed down. This is the third look and the third failure. If the price is to go higher, that MA will been to be rebroken to the upside. Until then, the sellers still have a a level of control.
Drilling to the hourly chart below, the price fall over the last few days has taken the price below the 100 (blue line) and the 200 hour MA (green line). However, the price is just trying to get and stay back above the 200 hour MA at $9390. If the price can stay above that MA, that would give longs some relief.
Although Warren and company have bashed the cryptocurrency, the digital currency is trying to recover.
