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Bitcoin on the rebound again
Yesterday afternoon Bitcoin did make what looked like a stop-loss driven move below its 21 day moving average. As covered at the time, the fall extended quickly to set a low at 93,601, but it did not stay down there for long and once back above its 21 day moving average, it has extended the move higher. That rebound has led it back above 96k this morning. By the way, that 21 day moving average is still rising and in place right now at 94,667. So, although higher today, that remains relatively close to the prevailing price action this morning. On the topside, the recent run of lower highs above 98k is still guarding against a more dynamic rebound. The range seen so far today has been covered by 95,324 and 96,778. It is currently trading at 96,570
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