Speaking on CNBCHe adds:
- It is Enron in the making
The price of bitcoin moved above $6000 on Friday and retested the levle in trading today before coming back down (double top at the 6063 area).
The price is back below the 100 and 200 bar MA on the 5-minute chart. The cryptocurrency tested those MAs and stayed below. Those MAs will be eyed for bullish/bearish bias. Those moving averages come in at 5914.01 and 5937.35 respectively. Stay below is more bearish.