Bitcoin still struggling for traction

Yesterday Bitcoin did eventually fall below 38k, and despite repeated efforts to rebound it did not make any real headway ahead of the wider US market close. In fact, it was under pressure, dropping to fresh session lows at 37,660 as that close drew near. Earlier today it tried to rebound back above 38,500, but with little success so far. The price has now dipped back underneath 38k again and is under pressure again as this update is being written. The range so far has been covered by 37,787 to 38,623 which is tight by usual standards. Once again the nearest notable support on the downside from here remains the still rising 21 day moving average. That is currently in place at 35,544. Bitcoin is just now trading at 37,870