Bitcoin reverses direction too

Following the previous update on the recent drop back in the price of Ether, Bitcoin has done something similar too. The lead cryptocurrency has fallen back close to 47,500 after it also failed to hold an earlier rebound, back above 48,500. The move back through 48k was pretty rapid at the lower end too as was the case with Ether. That suggests stops and system based selling kicking. As with Ether, Bitcoin has also dropped to post a fresh session low underneath 47,500 as this update being typed. The drop back to new lows this week also does open up a possibility that another test (in the opposite direction this time) of the 200 day moving average could be on the cards now. This was highlighted here earlier too, but not to say definitively that it will take place. However, this latest price action has certainly seemed to increase the chance. To remind the reader, that 200 day moving average is in place right now at 45,938. Bitcoin has just traded to as low as 47,414 a few moments ago and it is currently at 47,585, but the price action is rapid and unpredictable