Bitcoin lower after weekend rebound meets technical resistance above 99k

An update here on Friday noted how Bitcoin had nailed a support level at 92,145 and rebounded. Well, that rebound took it back to around 99,500 early on Saturday morning. That rebound high was right on the 21 day moving average. If you look at a chart this morning you can see it capped the topside move and since then the price has fallen back towards the 50 day moving average once more. That had capped the downside last week and it is in place higher this morning at 93,392, because it is rising steeply. Since topping out around 99,500 over the weekend the price action has been mostly southbound since and BTC has tracked back to a low earlier today, at 93,655. Hence, the fall has stopped just short of that rising 50 day moving average. At the same time, the 21 day moving average is now turning lower, so we have convergence folks. The outlook here remains skewed to the downside all the while the price action holds consistently below the 21 day moving average, which is in place right now at 99,436. Bitcoin is currently trading at 94,805