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Bitcoin recovers further in weekend trading

On Friday Bitcoin extended its recovery above 60k. That came as the dollar fell and stocks rose after all the US economic data supported a move higher in stocks. The recent noted price action between the Dow Jones and BTC therefore delivered more upside for the lead coin and it rose above 63k into the wider US markets weekly close. The move extended to above 64k on Saturday and reached a new rebound high on Sunday at 64,623 on Sunday- a gain of more than $8,000 from the lows seen last week, at 56,527. News reports suggested; that as the price lifted further on Friday, index funds were seen buying again, but of course those ETFs have to track the underlying. As to whether they actually perpetuated that is another matter. The next big level for Bitcoin is the 50% reversal of the 73,797-56,527 fall and that is at 65,162, which has you can see was not reached in weekend trading. The lead coins has traded to a low at 63,615 earlier this morning, but it is back above 64k again just now, currently trading at 64,380
 

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