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Bitcoin rebounds

14 Oct, 2021

Yesterday morning Bitcoin was under a degree of pressure. The lead cryptocurrency fell back close to 54k as some negative headlines impacted the price. However, once the US CPI data hit the wires, it was already snapping those losses. The price eventually rose back above the noted 56,363 level and once that was taken out, the move extended higher into the wider US market close. That move has been added to so far today. A short while ago BTC rose to its highest level since May 9, when it topped out at 59,270. The high set so far today has been at 58,511. It is a little below there right now, but remains elevated all the same. The next upside target/resistance now is that May 9 high, quickly followed by the May 8 high, at 59,530. If it can get above those two levels, then there is little left in the way of resistance ahead of the all time high, at 64,869. Bitcoin is just now trading at 57,930

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