Bitcoin trying to rebound in weekend trade

On Friday evening Bitcoin came a little unstuck. The lead cryptocurrency was not done any favours by the drop back in Ether, as just noted here. Bitcoin finally made a break below its noted 50 day moving average. That was in place on Friday at 42,435. So, as with Ether the breakdown below that support came just after the 4pm London FX fix. Further downside followed on Saturday. That saw BTC drop to as low as 41,776. Now owing to the shifting chart dynamic, the 50 day moving average has now fallen further and is in place (as at 3pm Sunday) at 42,072. The reason why BTC dropped on Friday afternoon is all about risk, or more rather aversion to it ahead of the weekend. Bitcoin did try make up some ground on Sunday afternoon, rising back to just above 42,700. That progress does look hard fought though. Bitcoin is currently trading (as at 3.30pm GMT Sunday) at 42,680