Bitcoin starts the week on a positive note

Late on Friday evening right at the close of the wider US markets, Bitcoin finally made a move above the noted important resistance level which was at 46,847. That move extended further on Saturday morning as the price rose to as high as 48,152. At that point it certainly looked like a weekend move to above 50k was potentially on the cards. However, and in the event it did not happen and the price slipped back to as low as 45,550 yesterday afternoon. Another rebound has unfolded in Asia today and that has seen the lead cryptocurrency reclaim levels above 48k once again, but so far a rise to as high as 48,058 has been the extent of it. It has now drifted back again ahead of the European opening, but the upside is still very much in focus again today and it remains to be seen just how much more upside there is. The prospect of a further move to the next retracement level, at 51,100 is still live all the while it remains camped above its 200 day moving average. That is in place right now at 45,428. Bitcoin is currently trading at 47,550