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Bitcoin not yet proving much of a risk haven today

26 Nov, 2021

Yesterday Bitcoin performed well, but in truth it was led higher by the gains in Ether, which clearly led the way higher and helped the lead cryptocurrency to reclaim the 59k handle. BTC rose to as high as 59,435 late yesterday evening. Earlier today it tried to surpass that high point, but later failed to make the break and has now fallen back below 58k once again. The move lower has seen it drop back to as low as 57,526 so far. The continued failure to even get close to testing technical resistance levels higher up is also a concern that was raised again here yesterday. The 50 day moving average is in place today at 60,750 and the 21 day is in place at 61,290. Bitcoin is currently trading at 57,570

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