Bitcoin edges back below 44k

Since an earlier update here on Bitcoin the price has been tracking lower in recent trade. That has now seen it drop back below 44k. There is no direct catalyst for the move lower and it looks based on profit taking and the possible tripping of some stops below the earlier Asian low. That move is unfolding right now as the price drops below 43,600, to as low as 43,587. That was literally just a few pips underneath that earlier low at 43,594.  It has now bounced almost as fast as it fell down, lifting back above 43,750 which makes for writing this update an exercise in real dexterity. The current chart dynamic does open the prospect of some further downside below 43,500 as still being live though. The first major upside target remains unchanged at 46,370 and it is still yet to be reached today. Bitcoin is just now trading at 43,775