Bitcoin just reached a high of $59,992, just short of the natural resistance target at $60,000.
In a video yesterday, i spoke to the pair and outlined that a move below – and staying below – the 200 bar MA on the 5-minute chart was needed to give the sellers something to lean against. The price consolidated and the price did briefly dip below the 200 bar MA but not by much before moving back above and basing against the 100/200 bar MA, before heading higher.
Traders in the digital currency can let the good times roll until the price moves below those MAs – and stays below.
PS. It now trades above $60000 for the first time since November 2021.
This article was written by Greg Michalowski at www.forexlive.com. Source