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Bitcoin grinding back above 96k again
Bitcoin has been trying to make progress during the European morning, but not until it fell back again first, to around 95,355, after peaking beforehand at 96,150. The rebound off that low seen a short while ago is now leading it close to the 96k handle once more. The overall price action is far from conclusive (as much as it ever is, to be honest with you) The fall on Friday off course took it back below the 50 and 100 day moving averages and it has remained below both since. For your guide, they are in place right now at 98,859 (50 day) and 98,022 (100 day). So, as you can see they have converged even more since last week. The risk of more downside is clearly still in place all the while that BTC remains camped below these levels. The fundamental reasons for why it is back down here have not changed either. BTC is currently trading at 96,002
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