Bitcoin trades above $40,000

Reaches a new high of $40,335

The price of bitcoin has surged above the $40,000 level. The high price just reached $40,335.44.

Reaches a new high of $40,335_

The gains today were help by chatter that Amazon was toying with the idea of accepting bitcoin. That got the ball rolling moved, and the squeeze has been on since then.  

Technically, the price did also move above its 50 day moving average yesterday (at $34,422.39).  That helped to tilt the bias more to the upside after consolidation near low levels going back to mid June. That floor area came between $28,600 and $31,107  Since breaking above that area on Wednesday last week, the price has been higher for six consecutive days.

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