Bitcoin consolidates and extends pre-weekend gains

On Friday Bitcoin started to move higher and that lift saw it rise towards 40k, ahead of and after the 4pm London FX fix. The lead cryptocurrency rose close to 41k ahead of the weekend. The move higher really started to accelerate once it rose back above its 21 day moving average, in place just above 38,500. Further gains on Saturday, followed by price consolidation yesterday, have given way to more upside again in Asian trading today. The price has extended to just above 43k a short while ago. The move higher in BTC is not alone either, as other notable coins have made similar moves over the past 3 days too. The further rise today has seen it lift above its 50 day moving average for the first time since breaking back below it in November last year. The next notable target for BTC is now at 46,730. That is the 38.2% retracement of the whole move down, from 68,991, to the 32,970 low. The range today has been covered so far by 41,535 to 43,017. It is currently trading at 42,795