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Bitcoin close to record levels this morning- can it reach new heights today?
Yesterday evening, after the wider European close, Bitcoin pushed above 107k for the first time and reached a new all time high around 107,700. It then dropped back below the 106k handle towards the wider US market close. The price action so far today has seen it trade a range covered by 105,512 to 106,967. There is no doubting the trend and prospect of more upside to come, but plotting to where that might extend is not easy now that we are once again into uncharted waters. Technically its does not look overcooked either, with the 14 day RSI (Relative Strength index) now around 70. So, from here on it is once again all about greed and belief; greed for more gains and belief they are possible. BTC is currently trading at 106,575
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