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Bitcoin on the cusp of 100k
The noted fall back in Bitcoin yesterday afternoon was as expected, just an interim profit-taking move and later the lead coin rebounded back, from a European low at 95,630, to test the earlier high on the day at 98,345.Today Bitcoin has extended the move higher and set a new record above 99k. The high seen earlier this morning was set at 99,368. It is not far off that high just now. So, as you can see that coveted 100k level is very much within striking distance ahead of the weekend. The only question right now is when will we see a trade above 100k printed and what happens, if and when seen? Will there be a raft of sellers looking to bank gains, or will 100k not actually cap the topside? Looking at the technical picture on this, we can see it is overbought, with the 14 day RSI above 83 right now. Perhaps what warns of a correction soon? All to be revealed folks. Bitcoin is currently trading at 98,875
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