Bitcoin stalls and reverses again

Yesterday evening the move lower in the dollar and gains for the Nasdaq 100 helped to lift Bitcoin and it initially spiked higher, as the MSFT results also spiked the Nasdaq 100 futures. So, BTC jumped as high as 81,709 - a session high. However, as you might doubtless know (given what we said earlier in the day), it did not get above that 50 day moving average. We noted that as being in place earlier in the session, at 81,922. That is rising slightly and in place this morning at 81,966.

Well, as the Asian markets then trashed the Nasdaq 100 futures, BTC threw in the towel again and fell back below 80k once more, trading as low as 79,605 earlier this morning. So, as you can also see, it did not take out the level we have been highlighting on the downside, at 79,184. 

It is also logical to see; that as the Nasdaq 100 futures have rebounded from the overnight lows so has BTC. It traded back as high as 80,417 not so long ago. Prior to that the earlier Asian high was set at 81,376. It is also arguable from all the most recent price action; BTC is increasingly pivotal around that 80k level and once again we highlight the levels of demarcation as being 79,184 and 81,966. BTC is currently trading at 80,040