Bitcoin runs into sellers above 50k yet again

Bitcoin did avoid another meltdown this weekend, despite looking vulnerable to that very late on Friday evening. However, it did rebound steadily on Saturday after an early move to below 47k. The price then lifted more yesterday, rising to as high as 50,796 ahead of the Asian reopening. However, that reopening was not so positive as earlier indicated and it has fallen back below 49k a short while ago. It has rebounded slightly so far, after dropping to as low as 48,483. The earlier high was set at 50,388. The immediate price action has been, and still is holding above the 200 day moving average. That is in place right now at 46,728 and has guarded the downside since December 4. However, the overall price action is still lateral in configuration, in between that support and major resistance higher up, at 54,539. Bitcoin is currently trading at 48,940