Bitcoin turns lower again

Yesterday Bitcoin managed to reclaim the 10,500 handle as the US equity markets rebounded. However, the further gains for the dollar have so far ensured that rebound did not get very far. The noted loose correlation between Bitcoin and the relative performance of the EUR/USD is still something to take into account when trying to assess where the next move for the lead cryptocurrency will unfold. The fact that the EUR/USD is still under pressure today has seemingly helped to push Bitcoin lower again. The price has just now fallen back below 10,400 and is not far off the lows seen on Monday, when it fell close to 10,200. As noted before, the danger point for this is still that 9852 previous interim low. If that gets surpassed, then expect further stop loss selling to kick in. Naturally, that level is still some way south of the current price, but a level that should very much remain on the radar all the same. Bitcoin has just now rebounded ever so slightly form a low a moment ago at 10,393. It is just now trading at 10,415