Bitcoin back below 58,500 as topside peters out again

Earlier today it was noted here on the quick news; that Bitcoin would probably need to hold above the interim pivot and support level at 58,500 if it was to have another good chance at reclaiming that 60k level once again. Well, for most of the morning the lead cryptocurrency resisted a move below that 58,500 price point. However, it has now just slipped below it and that has undermined the upside traction again. The move lower is not exactly conclusive yet and it may just be a case of removing stops first before it can try the upside again. That remains to be seen. The failure earlier on to get above 59,500 was a clear warning that it might suffer another minor drop. Bitcoin has traded to as low as 58,175 a short while ago and is currently trading at 58,450