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Bitcoin reclaims 58k in recent trade

25 Nov, 2021

Bitcoin has just lurched higher in recent trade. The lead cryptocurrency has rebounded back above 58k and has just now set a new session high at 58,486. The move has been swift and steep in terms of its ascent. There is no directly attributable news for the rise and it looks due to the usual trading activity. The next level of notable resistance beyond 60k, should the current rebound continue, is the 50 day moving average which is in place right now at 60,668. Of course that price point is more than $2000 away still, but in the current market conditions, where participation is low and liquidity not necessarily great, it might be wise not to rule out anything today. Bitcoin is currently trading at 58,200

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