Bitcoin on Wednesday challenged new highs as price against the US Dollar surged 1.42 percent within a few hours. The BTC/USD pair built upon the near-term bullish scenario after breaking above the interim resistance explained in our previous analysis. A breakout action above 6421-fiat started attracting long positions towards 6500-fiat as the primary upside target. The pair rallied and established a new intraday high towards 6515-fiat before retreating across the exchanges. It is now trading at 6507-fiat. The Dollar meanwhile slumped very little ahead of the US midterm elections. As of now, the Democratic party has ... (full story)