The price of bitcoin is inching back toward the highway for the day at $67,621 (reached earlier today). A high price just extended to $67,577. A move above that level would have traders looking toward the $69,000 level that was the all-time high level reached on November 10, 2021. The price has now extended above the October 2021 high at $67,087.
During yesterday’s trade, the price moved sideways and that allowed for the 100-hour moving average (see blue line on the chart below) to catch up with the price. When the price tested the 100-hour moving average, it gave traders the go ahead to push to the upside. Buyers reemerged..
Bitcoin is backup testing at session highs