Bitcoin moves up to unchanged. Correction is modest after the weekend run up.

The $11284.44 was the high today

The price of bitcoin moved sharply higher over the weekend and in the process took out the $10000 and $11000 levels. However, the digital currency did stall at $11216 on Saturday and $11284 today.  The corrections, off the highs, could only reach to the 38.2% of the move up from the June 18 low (or close to it).  That retracement came in at $0342.68.  For a full discussion of the weekend move CLICK HERE. 

The $11284.44 was the high today

The price has recovered off today's low and trades near unchanged on the day (down above $28 now).  The high on Saturday at $11215.89 and the high today at $11284.44 are the next targets on more upside momentum.  

ON the downside, the rising 100 hour MA at $10384.34 is now close risk for traders. Stay above is more bullish.  

Looking at the daily chart below, the next key target on it is up at $1524.53.   That is the 50% of the move down from the all time high from December 2017.

Bitcoin on the daily chart

ForexLive
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose