Bitcoin lifts off session lows and approaches technical resistance level

Yesterday the failure of Bitcoin to really recapture upside momentum was defined by its inability to hold a rebound back above 47K. The slightly negative wider market sentiment towards all risk assets did not help it either and as the US equity markets fell and the dollar rose, Bitcoin slipped back quite markedly into the wider US market close, dropping back underneath its 200 day moving average (now at 45,526) and below 45,000. The price later bottomed out at the start of the Asian session today, at 44,238. It has risen since than and it trying to hold above 45k as this update is being written. However, all the while it remains camped below its 200 day moving average, the downside probably still has more focus than the upside. Bitcoin is just now trading at 45,370