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Weaker dollar and higher stocks sends BTC surging above technical resistance
As noted here much earlier today, Bitcoin came close to busting above its 50 day moving average, at 61,408. That had shifted slightly lower following that first failure and it was in place this afternoon at around 61,405. Well, it did not matter too much when Powell spoke, because BTC surged through that level and beyond. The combination of a weaker dollar and higher stocks helped to propel BTC to a high at 62,311. It has backed away from that high now but so far any relapse has stopped short of falling back under that 50 day moving average again. Bitcoin is currently trading at 61,845
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