Bitcoin gives up its gains after reaching a new all-time record high

New record all-time high of $69000 reached

The price of bitcoin moved sharply higher in the early European session and in the process extended above the previous all-time high of $68,564.40 reached yesterday. The high price extended to $69,000, but rotated back to the downside. The last three hours have seen a sharp decline. The digital currency is now trading lower on the day.

New record all-time high of $69000 reached_
Although lower, the lowest price for the day was reached in the European morning session at $65,982.95 (just below the $66,000 level). Moving below that level, would have traders targeting the 38.2% retracement of the move up from low on November 6 at $65,621. Below that is the rising 100 hour moving average at $65,329 (and moving higher).

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