Bitcoin remains at risk of another 40k test

Bitcoin is above its lowest level of the day that earlier saw it fall to as low as 41,545. Prior to that it had topped out at 43,416. That high was set right at the onset of the Asian trading session earlier today. The move lower in BTC has of course been helped by a firmer dollar and higher US yields and if anyone thinks those drivers are not connected then this author would beg to differ, no matter how inconsistent the correlations may be. The price drop today has now taken it back closer to another potential test of its 100 day moving average. This is in place today at 41,054 and has guarded previous price falls on at least 2 separate occasions most recently. Of course it is yet to be retested today, but that is not to be ruled out. If it is and does not hold the next attempt, then this could easily reopen the 40k level again. That remains to be seen, but for now the price is trying to rebound a little more, currently trading at 41,985