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Bitcoin climbs back above $50,000 for the first time in a month

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Bitcoin up over 2% on the day to above $50,000

It is the first time since 7 September that price has clipped the $50,000 mark and it’s an important psychological win for buyers in trying to maintain the recent upside momentum, after having put up a defense at its 100-day moving average (purple line).

The break now has the technical potential to stretch towards the 7 September high of $52,948 and that will be a key upside target to watch in the sessions ahead.

Break above that and buyers could see renewed vigour in looking for a push towards $60,000 again perhaps – at least from a technical perspective.

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