Bitcoin rises to near 2 week high. Trendline and 100 day moving average targeted above.

The price of a bitcoin is trading to near 2 week highs. The high price it going back to June 7 extended to $27,388. The high price reached today just traded at $27,268.

Looking at the daily chart, the downward sloping a trend line cuts across near that high price from June 7. Just above it is the 100 day moving average of $27,610. The last time the price traded above the 100 day moving average was also back on June 7. Getting above all those levels would increase the bullish bias.

Last week, the price low reached $24,756. Concerns about market makers including Coinbase and Binance (both were sued by the SEC). However, the price decline stalled well ahead of the support targets including the lower channel trend line and the rising 200 day moving average (green line in the chart above at $23,980 currently)

This article was written by Greg Michalowski at Source