Sage Investment Club

Bitcoin gets closer to the 200 day MA

The price of Bitcoin has continued its run to the upside today and is getting closer to its 200 day MA at $19510.90. The high price today has reached $19396 so far, just $120 or so from the MA level.

The price of bitcoin has not traded above its 200 day MA since December 31, 2021.

The price today moved above its 38.2% retracement of the move down from the August 15, 2022 high. That comes in at $19,279. That level is a close risk level for buyers.

For the week, the price is up 13.25% this week. That is the largest % gains since March 21, 2022 week when the price was up 13.63%%

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