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Bitcoin rebound stalls ahead of technical resistance levels

Yesterday an update here noted the price action in Bitcoin and how it was holding below 27,500 so far that day. Well, subsequent to that update and later in the session, BTC did make a move above 27,500 and that has extended to as high as 27,883 since. However, it has so far stalled short of rising above the noted 200 and 100 day moving averages. Those have now shifted today and are currently in place at 28,024 (200 day) and 28,134 (100 day) respectively. The 100 day is still edging closer to crossing below the 200 day and that is not a particularly positive development. So, as you can see there are some significant levels in place on the topside again today and it remains to be seen if they will be put to a closer test, if the current price lifts once more. The range seen so far today has been covered by 27,559 to 27,883. As you can also see, that 27,500 level now appears to be acting as support. Bitcoin is just now trading at 27,680
 

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