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Bitcoin rises back toward $49,000

25 Aug 2021

Digital currency up about $1000 or 2.11%

The price of bitcoin has moved up about $1000 from yesterday’s close or 2.08%. The price is currently trading at $48,722 that’s up $990.99.

Digital currency up about $1000 or 2.11%_

Looking at the hourly chart, the price corrected off of the August 23 high down toward the 50% midpoint of the move up from the August 19 low. That level comes in at $47,248.83. The low price today reached $47,100 – just below that level before bouncing back higher. The move to the upside has now taken the price back toward its 100 hour moving average currently at $49,040.74. 

A move above the 100 hour moving average  would increase the bullish bias.