Another day another record for Bitcoin

Well, it is hardly a surprise to wake up this morning and see that Bitcoin has just risen to set a new all time record high. In fact, it would have been more of a surprise had it not done so. The move higher from yesterday has extended to as high as 64,557 in Asian trading today. Using the same simple trend line methodology, as just mention in an update today for the Nasdaq 100, the next target for Bitcoin right now would appear to be in the region of 66,400. That is not to say it will get there today, but the chances are clearly elevated right now. On the downside a clear break back below 58k from here would probably shatter that prospect from a technical perspective. Bitcoin is currently trading at 64,405