Bitcoin struggling for traction this morning

Following on from a much earlier update on the price action in Ether since this time yesterday, it has been a similar story for Bitcoin in terms of its rise and fall. Yesterday Bitcoin caught a bid after the US CPI data. That saw it spike higher, from 43,230, to as high as 45,838. The subsequent drop back since has delivered a relapse to as low as 42,657 at the start of the Asian session. Now it was noted here yesterday; that the downside price action was still being held in check above its 50 day moving average. Well, that 50 day average has now shifted, from 42,608, to 42,435 right now this morning. Having said that, the earlier drop back did not come that close to testing the level. The subsequent rebound since has seen it rise back to as high as 43,570, reached a short while ago. It is vital for BTC that it remains above that lower level, but right now the price action does make that somewhat doubtful. Bitcoin is currently trading at 43,320