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Bitcoin rebound is far from conclusive

13 Jan, 2022

As noted here earlier today, both Bitcoin and Ether made some further progress yesterday. Eventually that saw BTC reclaim the 44k handle. The price rose to as high as 44,319 late yesterday evening. Since then it has fallen back below 43,500 earlier today, but it is trying to rebound again now. The move higher yesterday came even as the 50 day moving average is now fast approaching the 200 day moving average to the downside. The price of BTC is still camped well south of that 200 day moving average too (now at 48,393) and all the while that remains the case, then any rebounds are more likely corrective than they are dynamic. So, once again today, BTC will be keeping a close eye on those US treasury yields as what plays out in that market will not be lost on the BTC price action. The range so far today has been covered by 43,450 to 44,066. It is currently trading at 43,745

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