Bitcoin continues its surge to the upside today
Up to $54,400 after trading to around $47,000 over the weekendThe price of bitcoin started the new trading day just above the $47,000 level. The price just moved to a new intraday high near $54,400. The search to the upside took the price racing through its 100 hour moving average currently at $50,725 and its 200 hour moving average at $53,126 . The price is also moved above the 38.2% retracement of the move down from the high last week. That level comes in at $53,752.
Technically stay above the 200 hour moving average is the best case scenario for the buyers. The next target would look toward $55,051 which is the top the trendline on the hourly chart also the low from April 7 at $55,441 would be eyed.