Bitcoin gives is all back and a bit more

Well, the price action in Bitcoin is never short of surprises and today is just another classic example of just that. As reported on earlier, BTC has reversed a pretty steep decline, with an ever sharper rebound. That took it back to a high at 97,303. as mentioned here at the time. Also noted were doubts as to whether or not it might have enough gas in the tank to tackle that noted double too above 99k. Well, the simple answer to that is clearly no, because BTC has not long ago reversed all the earlier gains and slumped to a new session low at 94,180 and it may not be finished with yet, now that is has reversed back underneath its 50 day moving average once more. The clear risk now is for a breakdown below the two prior interim lows, at 92,406 and 92,149. Of course it is still some away above those lows, but given the latest relapse, the daily chart does not exactly look supportive right now. We shall have to see on that. BTC is currently trading at 94,185