Bitcoin steady in overnight trade

Yesterday the rebound in Bitcoin that saw it reclaim levels above 40k did extend slightly as the lead cryptocurrency rose to as session high of 41,020. Perhaps unsurprisingly that high point came just ahead of the 4pm London FX fix as is often the case. When that happens it usually leads to an interim reversal and that is exactly what happened yesterday as Bitcoin fell back below 40k, to as low as 39,375. That move was mostly about profit taking and hence it was reversed into the start of the Asian session today. That has seen a rebound to as high as 40,846. It has backed off from there now as the European markets reopen, but not by any significant degree. The next really big hurdle for Bitcoin remains the 200 day moving average which is still rising and today comes into play at 42,576. That is a level that is likely to provide some significant technical resistance if the price can rise further to test the level. Bitcoin is just now trading at 40,455