Bitcoin is back above 100K. It was just Monday that the price moved below $90K

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Just two days ago, the price of bitcoin was moving sharply to the downside. The price fell below the $90,000 level reaching a low of $89,164, but just as fast, the price rotated back to the upside closing at $94,505.

Yesterday the price continue to move higher closing the day at $96,523 and today the momentum has continued with the current price trading back above the $100,000 level at $100,335. That’s a greater than 10% increase in less than two days.

Looking at the daily chart, the price is testing a top side trendline near session highs. Break above and the $102,760 to $103,647 swing area will be the next target area. The all-time high price is at $108,364.

This article was written by Greg Michalowski at www.forexlive.com.