Bitcoin rebound stalls above 50k so far today

Yesterday, it was outlined here on the quick news that Bitcoin is likely to make further progress and that is exactly what it did. The lead cryptocurrency gradually made further progress, reclaiming first 47k then 48k, and then later above 49k. That positive momentum was carried forward into the Asian session too as the price rose above 50 earlier today. Bitcoin rose to as high as 50,235. However, it has not managed to hold those gains and it now falling back towards 48,500. The price is still elevated though and but back below the current 21 day moving average that is in place now at 49,605. It will need to sustain another rebound back above this level if the momentum from yesterday is to be continued today. Bitcoin is currently trading at 48,625