Bitcoin drops back in Asian trade

The weekend price action for Bitcoin was rather inconclusive. The usual rollercoaster price action was highlighted by gains on Saturday, giving way to losses later that day, then a rebound on Sunday followed by further downside today. Overall since the wider US market close on Friday evening the price action has been covered by 33,450 to 37,300. The range today since the Asian opening last night has been covered by 34,204 to 36,225 and we are nearer the bottom end of that just now, with that low being set not that long ago. The previously noted 200 day moving average is still rising and today comes into play at 41,111. However, all the while the immediate price remains camped below this price point the near term price direction will remain in doubt. Bitcoin is just now trading at 34,595