Bitcoin is extending above its 50% midpoint
The price of bitcoin is continuing its run to the upside with an extension above the $43,000 level. The high price today has reached $44,011. The current price is trading at $43,353.
Technically the price has extended above – and away from – its 50% midpoint of the move down from the 2021 all-time high of $69,000. That midpoint level comes in at $42,240. Staying above that level tilts the technical bias even more to the upside/bullish. It would now take a move below that midpoint level to give sellers some hope. Absent that and the trend to the upside is your friend.
The price is now up for 5 consecutive days. Over that period, the price has moved up 15.16%.