Bitcoin rebound stalls ahead of technical target level

The further rise for Bitcoin yesterday saw the leading cryptocurrency first reclaim levels above 45k and then later in the session it rose above 46k, reaching 46,485 ahead of the wider US close. The price action in Asia earlier today delivered a move briefly back under 45k again before another rebound kicked in. That rebound saw it rise to as high as 46,707. This move almost reached an important technical level. That is in place at 46,847 and defines the 50% retracement of the whole move down, from 64,869 to the low at 28,824. Hence it is probably no surprise to see sellers come back ahead of this target level. The price has dropped back to 45,420 a short while ago. It remains to be seen whether or not another attempt at this key level will be seen as the day unfolds. Bitcoin is just now trading at 45,630