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$17K CME gap-fill looms after Bitcoin price closes below key moving average
After spending the last few days trading in a tightening range, Bitcoin (BTC) price dropped from its pennant structure and closed below the 20-day moving average ($18,600). Since topping out at $19,888 a number of analysts cautioned that Bitcoin price was at risk of a strong pullback if it failed to either secure a daily close above $19,500 or at least hold $19,000 as support. During Bitcoin’s most recent bull phases the price has held above the 20-MA so a daily close below this metric could be a signal that a short-term trend change is in order. In this instance, it also appears that bulls are yet to purchase the ... (full story)
