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Bitcoin unable to hold rebound above 44k

14 Jan, 2022

Yesterday afternoon Bitcoin managed to rise above the 44k handle and looked then like it might move above 45k. However, almost as soon as that upside move took place it very quickly reversed again and the drop back below earlier lows just underneath 43,500 saw it slide into the 4pm London FX fix. That fall was noted here at the time and it later extended to as low as 42,336 ahead of the wider US market close. It has rebounded modestly from that US low so far today, but the move is by no means conclusive. Also that 50 day moving average is even closer now to dropping below the 200 day too. The 200 day is still capping the topside higher up as well and is in place today at 48,430. The range seen so far today has been covered by 42,396 to 42,982. It is currently trading at 42,890

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