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Bitcoin has another look below 58k
Perhaps the move lower in BTC just now is connected to Gold falling back? Perhaps it is not, but either way BTC has now slipped below 58k. The low seen a little earlier today was set at 57,852. Once again the failure of BTC to climb above its 50 day moving average is noted here. That is still falling and in place right now at 61,405. So, as you can see the weekend rise did not even come close to testing this level and it was the case for all of last week too. Indeed, BTC has not traded above its 50 day moving average since August 9 and it is still dropping further below the 200 day, which as reported last week, is not a positive sign. Bitcoin is currently trading at 58,035
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