Bitcoin climbs back above $50,000 for the first time in a month

Author: Justin Low | Category: Cryptocurrency

Bitcoin up over 2% on the day to above $50,000

Bitcoin
It is the first time since 7 September that price has clipped the $50,000 mark and it's an important psychological win for buyers in trying to maintain the recent upside momentum, after having put up a defense at its 100-day moving average (purple line).

The break now has the technical potential to stretch towards the 7 September high of $52,948 and that will be a key upside target to watch in the sessions ahead.

Break above that and buyers could see renewed vigour in looking for a push towards $60,000 again perhaps - at least from a technical perspective.

Invest in yourself. See our forex education hub.
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose