Bitstamp and Coinbase test 200 hour MA today
As per the post yesterday, the price of Bitcoin trades at different prices on different exchanges (see post from yesterday). That is, the price is not transparent.
Although trading at different prices, the MAs have been telling similar technical stories. That is good news for traders in bitcoin.
Looking at the hourly charts below, the 100 hour MA held yesterday and into today (blue lines in the charts below). That MA was broken today and the price has moved down to test the lower 200 hour MA (green line - see chart below).
The 200 hour MA has been a support target for bitcoin (see the support bounces against the 200 hour MA line). So for traders, stay above is more bullish. Move below is more bearish.
Right now, the support against the 200 hour MA is holding.
Below is the chart from Coinbase. Note the support at the 200 hour MA line (green line). That 200 hour MA comes in at $17899.31 currently.
Bitcoin on Coinbase
The chart below is the chart from Bitstamp. The price today also fell to support at its 200 hour MA and held support. That 200 hour MA comes in lower vs Coinstamp at $17569.02.
Bitcoiin on Bitstamp.
So although trading at different prices for the same bitcoin, and although the MA are also different, the technical pictures looks similar. More importantly for risk focused traders, the "market" is reacting to the MAs. That allows traders to define and limit risk (and bias) in their trading. Stay above = bullish. Move below = bearish.
