Bitcoin mostly sideways today

As noted here earlier today, the reaction to the Fed last night delivered almost identical price action in a whole number of differing instruments. The spike higher in Ethereum (ETHUSD) was covered here earlier this morning and understandably that was not alone and a similar move of course unfolded in Bitcoin too. The lead cryptocurrency rose from a low at 46,570. That low was also set at exactly the same time as the low seen in Ether, and came at the 4pm London FX fix. The subsequent post Fed rebound took it to as high as 49,504 ahead of the wider US market close. Today it has not yet managed to get back to that level. The range seen today has been covered by 48,538 to 49,268. The immediate price action since the the US close has been broadly sideways within that range too. The price is trying to rebound a little right now. However, the longer term dynamic has not changed though and the series of lower rebound highs is still in place. That in itself is not particularly bullish of course. Bitcoin is currently trading at 48,820