Bitcoin rebounds from brief dip below technical level

Yesterday Bitcoin spent most of the session drifting lower as it slipped back below 47k and then later, towards the US close, below 46k. That drop then evolved into a stop loss hunt below the noted 200 day moving average which was in place then at 45,422. The prospect of this happening had been highlighted here earlier in the day, when it was noted that the price action was looking increasingly like that was exactly what it was evidencing. Well, perhaps no surprise to see that is did exactly that at the start of the Asian session today, when it fell to as low as 45,288. That low as possibly just enough under the 200 day moving average to achieve such an outcome. That moving average is still rising and today it is in place at 45,478. The subsequent rebound from below this level has now taken the lead cryptocurrency back above 46k. It is currently trading at 46,080