Planned «SEGWIT2X» upgrade has been suspendedWell there is more bitcoin-speak that is sending the cryptocurrency screaming higher.
This one is that SEGWIT2X upgrade has been suspended. You can read all about it HERE (with links). Honestly, it is beyond my pay scale. If you can make heads or tails regarding it, post in the comments.
The only thing I do know about is the technicals. Yesterday, the price fell below the 100 hour MA (blue line in the chart above) but could not get to the next target being the earlier swing lows. Today, the price moved back above the 100 hour MA, and that was the light switch that once again turned sellers back to buyers.. The rest of the move was triggered by the SEGWIT2X story (or so they say).
Technically, the cryptocurrency did stop right at a topside trend line on the daily chart at $7881. That trend line has stalled some of the momentum.
The November 5 high stalled at $7592.22. That is close risk now. Stay above and the bulls are still in firm control. A move below could lead to more back filling after the sharp move higher.