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Bitcoin backs off again

There was no rebound for Bitcoin yesterday ahead of the 4pm London FX fix. In fact it was just the opposite as the lead coin fell back throughout the session, from an earlier noted high, at 35,953, to as low as 34,334 just after that FX fix. It rebounded again into the wider US close though and briefly topped the 35k handle (35,110 the high). However, today it has fallen back and set a low so far at 34,342. The earlier Asian high was set at 34,978. At the same time the price action seems to still be waiting for the longer term moving averages to catch up with the latest dynamic gains and that looks like it might require more time too, but that does not preclude the risk of a downside break below 34k. Bitcoin is currently trading at 34,494

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