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Bitcoin breaks above key resistance around 36k as 37k comes into view

Yesterday evening Bitcoin started to rebound above 35,500. For most of the day beforehand it has been struggling for traction below that level, but had remained above 35k at the same time. The move through 35,500 set up a rise towards 36k once more and once that level was broken, it negated any chance of a double top being set in place. The move then extended earlier today as the Asian markets really got hold of it and took it higher. Indeed that extension continued close to 37k a short while ago. BTC rose to 36,990, but it has backed off a bit now. The break above 36k was important, as it also took out a major long term Fib level, at 35,924 (38.2% of 68,991 to 15,485 move). The next one of those is 50%, at 42,238. Bitcoin is just now trading at 36,790
 

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