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Bitcoin takes a dive below technical support level

As covered here on Friday morning, Bitcoin did reclaim the 44k handle, when it rose to 44,411. However, that has been the peak since then and there was no traction over the weekend or on Christmas Day. In fact it has been the opposite so far today, as BTC has taken a steep hit lower earlier this morning, dropping from around 43,500 to a low so far at 42,570. The move lower seemed to gather even more pace when the lead coin busted below its 21 day moving average. That is in place right now at 43,056 and since taking that out on the downside it has not yet traded back above it. The next support looks to reside at 42,200. The range seen so far today has been covered by that noted low and an earlier high at 43,740. Bitcoin is currently trading at 42,800
 

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