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No rebound yet for BTC
Since an update here this morning, noting that Bitcoin had fallen back underneath its 21 day moving average, the lead coin did try to make a move back above there. Well, it did but unfortunately it did not make it above 43,200 and once it fell back again, it has not been able to recover. BTC has dropped to a low this afternoon at 42,418, reached a short while ago. That has caused the 21 day moving average to continue to turn lower and it now stands at 42,971. The next level support, beyond 43k itself is now the December 26 low at 41,656. Bitcoin is currently trading at 42,470
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Dissecting the US data as US stock futures fall- check out the Nasdaq 100 futures right now
Following on from the previous update, noting the fall in US Q1 flash GDP at the same time as prices have risen, here is some more colour and opinion...
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US flash Q1 GDP falls and core PCE prices rise more than forecast- USD/JPY rises and falls
The very important US Q1 GDP estimate and core PCE price index have just been released. The flash estimate for Q1 GDP has shown a fall of 0.3% . That...
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US April ADP report misses estimates rising by only 62k- S+P 500 futures slip
The April US ADP private payroll report has just been released. As noted here earlier, the markets were looking for a lower number this month around...
