Bitcoin still struggling for traction as downside risk prevails

Earlier today Bitcoin tried to edge higher, but it truth it was a lame effort anyway and since then it has succumbed to another charge higher in the dollar and the continued fallout in the bond and equity markets is doing it no favours. So, as the dollar screamed higher on that Trump headline, BTC took a hit and fell through 95k for the first time today. The low seen then was set at 94,531. It has bounced moderately since then, but in truth it looks like it is still waiting for another accident to happen. As noted first thing today, only a rise back above its 50 day moving average will tilt the balance and since that earlier observation the tide has flowed in the opposite direction, as you can see. Right now the lower it goes the greater the risk of a real relapse below 91k will be. Of course it might bounce, but given BTC is the ultimate risk vehicle, it remains to be seen if there is any appetite for that. BTC is right now at 95,045