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Bitcoin higher today but sideways trend still intact

25 Nov, 2021

Yesterday, as noted here on the Quick News, Bitcoin did take a brief visit back below 56k. However, as the level of US yields dropped back yet again and the US stock markets rebounded, it was helped higher once more. The lead cryptocurrency recovered from a session low at 55,905, to back above 57,000 by the time of the wider US market close. Earlier today it managed to build on that rebound and move above 58k, rising to as high as 58,274. It has backed off from there right now and is currently trading back below 57,500. The price action overall remains sideways again for the time being, inside a wider range, which is probably defined by 55-60k. There is also some minor trend line resistance in place just above 59k should the price lift once more. It is also well below both its 21 and 50 day moving averages too. The 21 day (61,382) is moving closer to dropping below the 50 day (60,651) as well. BTC is currently trading at 57,455
 

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