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Bitcoin on the move again

12 Oct, 2021

Yesterday Bitcoin did consolidate its break above an important and noted technical reversal level. That saw it eventually make a move above 57k. Later in the European morning it did suffer a minor relapse, as the price just dipped underneath 56k again, but that sell off did not last for very long and the subsequent recovery took it back above 57k again by the time of the wider US market close, peaking at around 57,800. A drop back earlier today stalled short of that 56,363 level, when basing out at 56,437 and since then it has just now lifted quite sharply again, rising to around 57,650 a few moments ago. As noted here previously, there really is not much in the way of resistance up here until the price approaches 60k. Around that level there is a triple top in place from daily highs set back in May. Those kick in at levels in between 59,250 and 59,600. Hence a break above 60k again from here surely does open a path to the April 14 all time record high, at 64,869. Bitcoin is currently trading at 57,510
 

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