Bitcoin extends upside run above interim resistance at 50,235

The move higher in Bitcoin has extended now. Earlier on it was mentioned here; that the lead cryptocurrency was attempting to reclaim the uptrend again and that would be better served if it could rise above the high seen yesterday. That was in place at 50,235 and the price has now taken this level out as it shunts higher towards 51k. Naturally, there was some acceleration as the price rose above this level, but then again Bitcoin does not need much of an excuse to accelerate most of the time anyway. The move higher now increased the chances once again; that the drop to 43,016 was enough of a correction to now see the overall uptrend resume. Of course that is by no means guaranteed, but the chart set up now does indicate that further gains could come in the short term. Bitcoin is currently trading at 50,785