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Bitcoin makes a move above 11,555

19 Oct, 2020

Bitcoin has finally woken up to the higher EUR/USD today. Earlier, the price did seem to be resisting the fact that the EUR/USD had moved by around 75 pips but not really taken Bitcoin with it. That seems to have changed slightly now and the lead cryptocurrency has now broken above the high point it reached on Thursday at 11,555. That has led to a quite rapid price extension to as high as 11,635 just a few moments ago. The move higher today has almost certainly tripped stops above 11,555 and shifted the short term dynamics for Bitcoin and the next level on the immediate radar is 11,700. At the current pace of change that level could soon be tested. Bitcoin is just now trading at 11,610

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