Bitcoin still struggling to reclaim technical resistance level

Yesterday Bitcoin did manage to briefly climb back above its 200 day moving average, when it rose in the late US session, to as high as 47,913. The 200 day moving average is still rising slightly and in place today at 47,806. So, the rise last night was not at all conclusive and besides it was not sustained either. The price dropped back to as low as 46,753 earlier in the Asian session today and the subsequent bounce from that low stalled at just above 47,500. It has now turned lower again and it is approaching those session lows right now. The thing is; all the time the price cannot sustain a rise above that 200 day moving average, then the trend and outlook will remain negative. Bitcoin is currently trading at 47,160