Bitcoin has another look above 30k

The rebound in the price of Bitcoin today has seen the lead cryptocurrency again reclaim the 30k handle. Yesterday afternoon the chances of another drop back below 29k were highlighted here and that did duly unfold as the price fell to as low as 28,646 just ahead of the 4pm London FX fix. The rebound that followed into the wider US market close has been extended upon so far today and that has delivered a move to as high as 30,183. Hence, the overall sideways price action has remained intact. Meanwhile, the noted 21 day moving average is still falling steeply and now even closer to the prevailing price action. That is in place right now this morning at 30,860 and it looks like it will meet up with that prevailing price action pretty soon. That could then determine which way the next, more substantial move is going to take this one. Bitcoin has just now dipped back below 30k, currently trading at 29,925