New highs for the day
The price of Bitcoin is pushing back toward the $60,000 level. The high just reached $59,870.66.
Looking at the hourly chart above, the digital currency moved back above the 200 and 100 hour moving averages toward the end of day yesterday. Then corrected lower toward the 100 and 200 hour moving averages today. Those moving averages come in at $57,103 to $57,369. The low price reached $57,530.96, just above the higher extreme. Staying above was more bullish. The buyers reentered and has pushed the price up over the last few hours.
Now the $60000 level looms. Move above, and traders will start to look toward the all-time high of $61,742.40.