Bitcoin surges and trades to the highest level since May 12
Price is up 7 of the last 8 trading days
The price of Bitcoin has continued its run to the upside that has seen the price rises seven of the last eight trading days. Over that time. The price has moved up 36.2% or $14,750 from the low on September 29 to the high price today.
Today the price is up around $3600 or 6.96%. The high price reached $55,499.96. The low price was down $50,428.64.
The price based near the 100 hour MA before moving higher. Since then the price has seen a break above its 200 day moving average (currently at $45,013.16) and the 50 day moving average currently at $42,027.27. The price low on Monday based against the 50 day moving average before moving higher.
Today's run to the upside took out the September high price at $52,956.47. That level will now be close support. Stay above and the buyers remain in firm control.
On the topside the swing high price from May 10 that $59,603 is the next key target on the daily chart. The high price for the year and all-time high price comes in at $64,895.22.
For more color today on the Bitcoin price action, see Adam's post HERE.