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Bitcoin takes out 46,540

In the past couple of minutes Bitcoin has now risen above a noted technical reversion level, at 46,540. The acceleration above this price point is clear to see, if you look at a chart of the price action. The move has extended to above 46.700 (46,728) so far, but it may yet have further to run. There is no immediate news based catalyst for the rise, but the chart dynamics do not really surprise. The next big level now could be the current 2024 high at 49,021. That was set ahead of the granting a whole bunch of ETF licences by the US SEC. The rebound back above 46,540 today has now all but reversed the subsequent sell off that saw it fall below 39k once those licences came to life. Bitcoin is currently trading at 46,670

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