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 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.