Bitcoin pushing toward record highs. Into the topside swing ceiling.`

The story is that a Pres. Trump is more digital currency friendly and that has the price of Bitcoin higher for the 3rd straight day.

• The price has moved from a low on October 24 at $65,000 to the high price reached today at $72,756 or +11.93%.
• Since the September 6 low, the price is up 38.466%.

Looking at the daily chart, the price is entered into a swing area ceiling between $71,958 and $73,794.

When a is approach, there are two options from traders:

• Using area to lean against with a stop on a break above. Traders hope a rotation lower as it has happened on a number of times since peaking in March.
• Push higher and break the ceiling, opening the door for more upside momentum.

The all-time high price was reached on March 13. That is 229 days ago.

Since then, the price has reached down to $49,577 on August 5. That was the day of the carry trade unwind in the USDJPY. The broader NASDAQ and S&P indices both bottomed on that day.

That is a long up and down consolidation period. Buyers are making a play. Can they continue the momentum.

RISK? Trump loses.

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