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Bitcoin nails first technical level perfectly and rebounds
An earlier update here noted the next support level on Bitcoin, at 92,145. Well, in case you missed it, BTC nailed that support almost to the dollar. It fell to 92,149, but since then is has rebounded back above 95k. The move higher has been helped by the rebound in stock futures after the PCE data and the slight fall back in the dollar. Lower US yields subsequent to that data have surely helped too. However, it remains to be seen how this rebound will play out from here. Has it got further to go, or are we in for another relapse? You have to decide on that but in doing so it would be wise to keep an eye on those broader markets too. BTC is currently trading at 95,340
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