Bitcoin drops closer to a test of 200 day moving average

Following previous updates here last night and today, Bitcoin has fallen further. It has now dropped below 43k as it continues to trade negatively following the clear break below support at around 47k. The move lower this morning has now taken the price closer to a test of an important technical level. That is the 200 day moving average. That is in place today at 39,520. The low so far today has been set at 42,185. That low was set not long ago, but the price is attempting to rebound slightly now. Of course at current levels that rebound is by no means conclusive to much yet. The risk is probably skewed to further downside right now unless it can reclaim levels above 47k on a sustained basis at the very least. As per earlier the overhang of the news last week is not serving the lead cryptocurrency well as the new week gets underway. Bitcoin is currently trading at 43,200