The correction came down toward $45000 from $48200. Back above $47000
While the forex pairs trade near low dollar levels but not running, the price of bitcoin in heating up a bit.
Looking at hourly chart of bitcoin on Coinbase, the price today moved up to an all time high at $48204.67 ($48200 on others) and randomly found some profit taking sellers.
The price moved down toward $45000 (the low reached $45,056) and - somewhat randomly as well - found buyers.
The price is back up trading at $47,200 area. An earlier high today reached $47,492. The high price just reached $47,446 - less than $50 from the high.
I get the feeling, if the price is able to get above that level, it will make the run to the high near $48,200.
Hold, however....and the pressure higher may be off. Look for a rotation back down.
Key time. Let's see if the buyers can complete the push higher or do sellers stall the rally.
