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Bitcoin still on the rebound so far today

Bitcoin dropped back on Friday afternoon after previously rising to as high as 26,679 earlier in the session. The low came right on the 4pm London FX fix, where it fell to 26,231, but it still held above its noted 21 day moving average (then at 26,092). Once again the reader is reminded; just how often BTC peaks, or troughs on that 4pm FX fix and that is something you do need to be acutely aware of, if you are trading this instrument. The rebound that followed saw the price spike higher into the weekend. BTC rose to as high as 26,881 early on Saturday. It backed off from there and spent the rest of the weekend trading sideways, in between 26,443 and 26,620. However, earlier today it rose again, reaching 26,752 not that long ago. Meantime the 21 day moving average is still rising and in place right now at 26,158. The previously noted next resistance level has shifted too and that is the 50 day moving average, in place this morning at 27,233. That is still falling and so we have divergence between the two, as indeed was also noted on Friday. The range seen so far today has been covered by the noted high, and an earlier low at 26,409. BTC is just now at 26,654

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