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Bitcoin price action suggests a break above 42k is now required

Following an earlier update here today, noting the risks of a drop to below 40k in Bitcoin, it has not backed off. In fact it has lifted somewhat and risen to a high so far at 41,253. It is off that high now and upon closer inspection of the most recent price action and rebound from the 40,192 low seen on Monday, I note a series of lower highs. That can be a good indicator of the immediate trend. Look, it is not always hard and fast in that sense, but it is often indicative. So, looking at that, it is reasonable to assume, that in order to really recapture the uptrend, that has clearly stalled, the lead coin could do with making a sustained move back above 42k. In the absence of that I refer back to what I said earlier this morning. Bitcoin is currently trading at 41,155
 

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