Up about $2200 on the day.
The price of bitcoin has pushed higher over the weekend. The price dipped down to a low on Saturday at $60,109, but has since moved sharply higher on both Sunday and today. The price is currently up around $2100 at $65,385. The high price reached $66,433.72.
In the process, looking at the daily chart above, the price has moved above its swing high level from April 2021 at $64,895. However, the new all-time high from October at $67,016.50 remains a topside target to get to and through.
Helping the bullish bias over the last few weeks was the holding of the 38.2% retracement of the move up from the September low. That level came in at $56,533. The low price bottom just below that level at $56,425 before bouncing back higher.
Drilling to the hourly chart, the price rebound off the low on Saturday saw the price extend back above the near converged 100 and 200 hour moving averages (blue and green lines in the chart below). Holding support near the those moving averages gave the buyers occurs to push higher. Buying intensified above swing highs from the end of October near $63,684, and $64,300.
The 38.2% retracement of the move up from the Saturday low comes in at $64,035. That will be a close support level on a dip. Stay above would be more bullish. Move back below and we could see a rotation further corrective move to the downside with the 50% retracement of the same move higher at $63,294 as the next target.
