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Bitcoin fails to hold earlier modest rebound as 37k looms larges

Earlier this morning Bitcoin fell to a new session low at 37,103. It then bounced to 37,462 in a move that looked like it might have more to offer. Well, that has not been the case, because BTC is falling back towards that earlier session low as I write this update. The lack of traction from the high on Friday is increasingly leading the risk that the move to 38,422, was little more than a stop loss induced false break above an important technical level. The nearest support of note below 37k comes in now at 36,872 and that is where the 21 day moving average resides right now. In fact, BTC has now set a new low on the day, as it dips below 37,100 and even closer to 37k itself. The new session low seen just now is at 37,055. It is currently trading at 37,098
 

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