Bitcoin still under pressure

Yesterday as Bitcoin dropped back a key support level was highlighted here on the Quick News. That was the level of the 200 day moving average, which was in place yesterday at around 46,720 at the time of that later update. Well, it did not cap the downside run as the price later dropped below this level and that breach surely sparked some further stop loss induced selling too. Bitcoin fell back to as low as 45,773 in late US trading. It did try to rebound during the Asian session today, but despite several attempts to rise further, that rebound has stalled ahead of 47,300. The range seen so far today has been covered by 46,315 to 47,267. Meanwhile, that 200 day moving average is in place right now at 46,775. Bitcoin is currently trading below that level, right now at 46,650 and under pressure as the Europen markets reopen