Bitcoin jumps to a new 2024 high above 49,021

A short while ago Bitcoin rose to set its highest level of the Year so far. It rose to a new high at 49,499. There was no specific news attached to the move. It now remains to be seen, just how far it might extend now that it has taken out 49,021. In terms of further upside targets on this one, the next obvious level would be 50k. Beyond that lies something quite a bit higher up, at 56,364. That is the 76.4% and final Fibonacci correction level, of the fall from 68,991 to the 2022 low at 15,485. Perhaps it might be best to see if it reaches 50k first before getting too excited about that upper level.. Bitcoin is currently trading at 49,430