Bitcoin has been stopped dead at the 200 daily moving average

[broodcoalition]

At the moment, Bitcoin is fairly stable on the 4-hour chart but buyers need to step in after such a strong rejection and swift drop in price. Bitcoin price sits on a couple of levels of support, such as the 4-hour Kijun and the top of a price move made on Oct. 7. Bitcoin also appears to be in the middle of a small uptrend, looking toward another possible move higher. Its current correction, as part of the trend, is not quite low enough to indicate a break in the lower time frame market structure.