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

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