Bitcoin is higher on the day. The closing level yesterday was at $62,512. The current price is at $63,281.
Yesterday saw a huge run up from $56,755-$64,000 at its session high. After that trend move higher, the price tumbled down to a low of $58,835 before bouncing higher again.
The price action has been to the upside but with up-and-down volatility.
In my video a few days ago I spoke to the shorter-term 5minute chart. More specifically I suggested that until the 200-bar moving average on that shorter-term chart is broken with momentum (and stayed broken), the buyers were in firm control.
Bitcoin buyers remain in firm control
Looking at the 5-minute chart above, the sharp…
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