Bitcoin is testing $92,000 once again

Yesterday I highlighted that bitcoin has held $92,000 (or near that level) on six separate occasions since breaking above $100,000 for the first time. Another test is unfolding now with it trading perilously close to that level and at the lows of the day.

We’ve already broken yesterday’s low of $92,724 and that triggered some additional stops in the past few minutes. These are the lows of the year so far but I wouldn’t expect any big stops until the Dec 30 low of $91,262 is breached, if not the $90K level.

If those go, you could argue there is something of a messy head-and-shoulders pattern that targets $78K.

This article was written by Adam Button at www.forexlive.com.