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Bitcoin attempted to break above $ 23500 on Friday, but the upside attempt stopped at 23467. The subsequent drop in the US market close saw Bitcoin fall back to 22700 again. However, this level held up and on Saturday it recorded a modest progress. However, this level held up and some modest progress was made on Saturday. Eventually the rebound extended to 23400 on Sunday. This morning it is trying to climb above this level, but for now it has just crossed the upper limit. The broader price action is clearly still enclosed within the 50 and 100 day moving averages. These are found this morning at 21582 and 25643 respectively. The slight drop in the dollar since Friday afternoon seems to play a major role, so the immediate path of BTC may once again depend on the performance of the US currency (and US bonds) this week. . The range seen so far today has been covered from 23068 to 23190.
Exceeding 24700 with good volumes will be a good sign, the fact that we are above the exponential average at 50 bodes well.
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