Bitcoin drops back below 200 day moving average again

On Friday the outcome of the most eagerly anticipated White House Crypto summit did not exactly deliver the news that advocates were looking for. There was nothing concrete that emerged to send BTC roaring higher again. Of course some of those leading protagonists tried to push the agenda on any US strategic reserve in their favour, but that was always likely to be the case and besides; this is not just about BTC when it comes to strategy and policy down the road. So, Bitcoin backed off again later on Friday evening and that downside was extended further on Sunday. BTC fell below its 200 day moving average (in place then at 83,255) again and below 83k ahead of the Asian opening. The low seen on Sunday afternoon was set at 82,663. The price action since then has seen BTC hit again and it fell very close to 80k at the start of the Asian session today. The low seen was set at 80,019. It has rebounded off that low now, but all the while below that 200 day moving average (now at 83,362) we simply cannot rule out further downside. BTC is right now at 82,190