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Bitcoin survives a first test of 40k

21 Sep, 2021

Yesterday it was noted here on the Quick News; that if Bitcoin dropped back below 43k, that would open up some more downside and potentially lead to a drop back to 40k. Well, that did not initially happen yesterday, but the rebound from that 43k level did not rise back above 45k. The failure to make any substantial progress yesterday was then followed by a drop back overnight and earlier during the Asian session. That move lower resulted in a drop to around 40,200, but it has rebounded again from that level and that rebound has seen it recover back above 42k ahead of the European opening this morning. It did briefly retest the 43k level once again, but so far that has stalled the rebound. Unless the lead cryptocurrency can recover 43k, and perhaps 45k with more vigour then further downside risks will remain. Bitcoin is currently trading at 42,650

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