Bitcoin rebounds from drop below 46k

Yesterday was not a good day for Bitcoin, as the leading cryptocurrency continued to track lower. However, it did later rebound, from an afternoon low at 46,613, to back above 48k ahead of the wider US market close. That rebound was not sustained into the Asian opening today and it fell back below 47k and then even more, dropping below 46k. The low seen at the start of the Asian session was set at 45,965. It has rebounded from that low not this morning and a short while ago it managed to lift back above 47k once more. However, this time the high of the day so far has fallen short of the important 200 day moving average, break of which surely have caused the drop back yesterday. That is in place today at 47,769. So, it remains to be seen if it can sustain this current rebound as the day unfolds. If it cannot reclaim that 200 day moving average in a sustained way, then more downside might be in play. The range seen today so far has been covered by 45,965 to 47,485. It is currently trading at 46,940