The SEC headlines on bitcoin sent the digital currency sharply to the downside. The price which reached a high of $31,260 moved down to a low of $29,508. In the process, the pair fell below what was a floor between $29,820 and $29,941. That area will now be eyed as close resistance. Stay below keeps the sellers more control.
On the move to the downside, the price also moved below the 100 and 200-hour moving average is near $30,435. If the price should step back higher, those moving averages will be eyed as resistance.
This article was written by Greg Michalowski at www.forexlive.com. Source