Bitcoin backs away from 11k again

Yesterday it was noted here; that a break above 10,800 in Bitcoin was likely to deliver some immediate upside extension and acceleration and that is exactly what happened as the price shot through that level around the time of the 4pm London FX fix. The move extended to as high as 10,957 before it ran out of steam. Understandably, the move higher was always likely to meet with trepidation as it approached 11k again and that seems to have been the case because it has not managed to get there yet again today. The price peaked at 10,943 and has drifted backwards again, but has remained above 10,800 so far. Indeed, that level should now offer a fair degree of support, where it had previously acted in an opposing fashion.  So, it would seem that Bitcoin is now locked in an immediate range, in between 10,800-11,000, before another breakout move might occur. Either way is it hard to imagine such a tight range remaining in place for too long. Bitcoin is just now trading at 10,860