Bitcoin holds above 44k today

Yesterday afternoon, as Bitcoin continued to reverse back from its earlier highs around 47,350, it was noted here that the immediate pressure appeared to still be on the downside. Well, that did play out to a degree because the lead cryptocurrency then fell below 44k, to as low as 43,764. Yet again that move unfolded right on the 4pm London FX fix. Perhaps unsurprisingly, following that 4pm fix, the price then rebounded again. Look it has been noted here many times before, just how often the extreme of the day (high or low) is reached around that time and that dynamic really needs to be remembered if one is trading this instrument. Point made I hope. So, the subsequent rebound was not actually that impressive yesterday afternoon as the price struggled to hold levels above 45k. Today it did rally above 45,500 after falling to a low at 44,042 earlier on, but that move fizzled out too and the price dropped back to as low as 44,500, It is trying to rebound back above 45k again right now, but looking at the wider chart, the downside risks are no less diminished than they were yesterday. Of course it could up to Ether to once again dictate the next move for Bitcoin, but the price action for sure remains unpredictable and volatile on both. Bitcoin is currently trading at 45,020