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Bitcoin falls back so far today

So far today Bitcoin has been tracking steadily lower. Yesterday Bitcoin did rebound and that saw it rise from an earlier spiked low at 42,070, to a high at 43,563, just as the wider US markets were drawing to a close. However, as just noted, BTC has been dropping back so far today. The low seen a little earlier this morning was set at 42,546. I am looking around at immediate levels and I note the 50 day moving average in place right now at 42,932 and then higher up, at the 21 day moving average at 43,808. It is worth noting; that the rebound seen late last night did not get above that moving average. The risks of a deeper corrective decline will likely increase, if the price breaks below the previous interim lows seen on Monday at 41,693 and then the one set last Thursday, at 41,469. Bitcoin is currently trading at 42,720
 

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