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Bitcoin finds a base below 42k
Subsequent to an update here yesterday afternoon, Bitcoin fell back further and eventually took out the 42k level. The low seen was set, after what would have been the European close, had the markets here been open. Bitcoin traded at 41,656. It then rebounded back above 42k into the wider US close. It rose to 42,599 right at the start of the Asian session today. That was followed by a fall to 42,135 earlier this morning, but it has rebounded since then. That said, the 21 day moving average is still turning lower and has yet to be put to the test today. It is currently in place at 42,969. So, the rebound since yesterday is all well and good, but it has not shifted the dynamic yet. Hence, the risk of sellers on rallies this side of that level remains in place for the time being. Bitcoin is currently trading at 42,440
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