Bitcoin breaks out again

Well, perhaps it is of little surprise, but after another weekend of sideways trading, Bitcoin has broken out higher again. The lead cryptocurrency was under pressure on Friday afternoon. The drop to fresh session lows came around the time of the 4pm London FX fix, had there been one, but of course the London markets were closed. The low seen then was set at around 29,270. For most of the weekend the price action was once again sideways, in between 29,500 to 30,000. However, a breakout above 30k earlier today delivered a really quite dynamic spike, to as high as 31,314. The move higher has been delivered by further gains for BTC versus Ether as the price of ETH/BTC comes under further pressure so far today. The range in BTC has been covered so far by 29,925 to 31,214. The 21 day moving average has so far guarded the downside today too. That is in place right now at 29,815. BTC is currently trading at 31,145