Trades to highest level since December 23rd
The price of bitcoin on Coinbase, has moved to the highest level since December 23rd. The high price reached up to $7615.68. The low for the day reached down to 7312.22. That low approached but really didn't test, the converged 100 and 200 hour MAs at $7262. The price did get to within $50 of the key moving averages. Finding early buyers against that support kept the bulls/buyers in control.
What now?
The high from December 9 comes in at $7659.38. The more recent high from December 23 comes in at $7688.99. Those are topside targets.
On the downside, the rising 100 hour MA at $7336.17 are risk levels. Stay above keeps the buyers more in control in the digital currency.
Taking a broader look at the daily chart below, the falling 100 day MA comes in at $7946.08. If the price can extend above the recent highs on the hourly chart, the next key target will be the 100 day MA at $7946.05 (close enough to $8000). That would be a key, key, level for bitcoin. Get above the MA and then the $8000 level and there should be more upside momentum.
