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Bitcoin holds 42k in Asian trading

There was no significant rebound for Bitcoin yesterday evening. It was not helped by a recovery in the dollar perhaps too. The lead coin dropped back a little further earlier today, when hitting a low at 42,161. It has since rebounded off that low, back above 42,500 as I write. Directionally, the 21 day moving average is still falling and that is setting the immediate tone, as indeed it did yesterday. That is in place right now at 42,876. So, unless it can rise back above that, on a sustained basis, then the risk of more downside below 42k cannot be ruled out. As mentioned here yesterday the next support is the December 26 low, at 41,656. Beyond that comes the December 18 low at 40,515. Bitcoin is currently trading at 42,548

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