Moves down about $600 $650 now.
The price of Bitcoin has moved sharply lower in trading today.
The digital currency is down about 7.4% 8.1% now at $7449. The low extended to $7505 $7433 at the lows.
Technically, on the daily chart, the pair has dipped below a swing high from April 3rd at $7520. Below that a swing low from March 18th comes in at $7310. A lower trend line cuts across at $7019.
The move lower is running away from the 100 day MA (blue line in the chart above) and now from the 50 day MA (white line at $8412.55).
Looking at the hourly chart, the price fell below a lower trend lines at 0.7644. That is now the risk for shorts/sellers (or the level the longs will need to see breached for the bias to turn a little more bullish).
PS, the price is now down -$652 on the day as the selling intensifies. Technically, the picture is looking more and more bearish as longs liquidate.
