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Bitcoin tests first support at 42,200

Subsequent to an earlier update here, Bitcoin has fallen back further and a short while ago it tested the first, noted support at 42,200. The low seen so far was set just now at 42,226 and it has just bounced a little. That said it could still have another look at that 42,200 level. There is no apparent, fresh news behind the further falls, but the daily chart is suggesting there could be more downside to come. That is especially the case all the while the price action remains below its 21 day moving average. That has now shifted slightly from where was at the time of my last update, currently at 43,037. Bitcoin is currently trading at 42,390

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