Bitcoin builds on shallow uptrend above 200 day moving average

Yesterday Bitcoin did not fall back below 46k again. Instead it managed to grind its way higher throughout the session, building a clearly defined intraday shallow uptrend throughout the session. That dynamic later allowed it to reclaim levels back above 48k ahead of the wider US market close. Earlier today it tried to extend upon that rise, as it lifted to a session high of 48,755. However, it appears to have run into some resistance ahead of 49k and now it has dropped back again. The rebound back above the 200 day moving average (now at 46,852) was a clear positive for it yesterday and all the while it remains back above that level, then there is reason to be technically positive. However, the immediate chart dynamic on a slightly longer term basis does evidence a series of lower highs and all the daily moving averages, apart from that 200 day are now turning lower at the same time. Bitcoin has traded in a range, so far covered today by 47,863 to 48,755. It is currently trading at 48,090