Bitcoin price moves to a new high of $98,374. The current price is $98,010.

The move to the upside brought the price closer to the swing area near $99,800. Just above that is the natural resistance at $100,000. A move above that area would give buyers more control (and give sellers added fear of another run to the upside).

It should be noted that the low price from Monday’s trade dropped into the swing zone between $90,742 and $92,442 (see yellow area and blue numbered circles 10 and 11). The low extended to $91,315 before turning back higher. Keeping that acreage helped give buyers the go-ahead to go back up.

On a move lower, the near converging 100 and 200 hourly moving averages at $94,800 would be seen as technical support. It takes a step below those arrears to give sellers reason to pause.