Bitcoin disappoints again

Yesterday Bitcoin did make some modest further progress and it did eventually managed to climb above the 86k handle. The trouble is, it was not able to hold the gain. BTC peaked 86,450 just ahead of the 4pm London FX fix. The price action from there on was all to the downside and it has extended that fall today. BTC gas dropped back close to 83k earlier today. Well, if you look at Gold setting new records and approaching $3,300 you can see that BTC is certainly no digital version of that despite what anyone likes to think. Of course the slide in the Nasdaq 100 futures today is having a negative impact on BTC and it looks like that correlation is back in play again today. The failure of BTC to test its 200 day moving average to the upside remains a constant negative. For your guide that is still rising and in place this morning at 87,643. The 50 day is still falling and in place right now at 84,264. The low on BTC seen so far has been set at 83,104. It is currently trading at 83,445