Bitcoin gains 7.5%
Bitcoin tested the 100-day moving average for the fourth consecutive day today but it held once again despite a marginal new low.
That and better overall sentiment around omicron led to a $4000 rally in bitcoin to $58,025.
That's a strong day for bitcoin but the bulls would no doubt love to see a break above last week high of $56,400 and the previous high of $60,051.
If we fail to get above there, it will be another lower high.
Overall, I strongly suspect bitcoin will go with the rest of the market in regards to omicron, at least in the short term. With that, we'll cross our fingers and hope it's not as transmissible as feared and/or reports continue to circulate that it's mild.
