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Bitcoin stalls above 41k again

16 Jun, 2021

Late yesterday evening Bitcoin jumped back above 41k again. The price rose to as high as 41,307 and that price marked the highest level for the lead cryptocurrency so far this week. However, the move higher was not sustained again and it fell back below 40k once more around the time of the wider US market close. So far today Bitcoin has traded mostly sideways, with 40k seeming acting as a pivot. The range seen so far today has been covered by 39,635 to 40,406 and it is currently just near the upper end of that range. The 200 day moving average, that was noted again here yesterday, is still rising and today comes into play at 42,686. Perhaps the spikes above 41k so far this week are running into further selling pressure ahead of this important price point. Ultimately, only a break above it will prove that not to be the case. Bitcoin is currently trading at 40,260

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