Bitcoin climbs further away from support base

Following on from an update here on Bitcoin earlier this morning, the price is just now climbing to fresh European trading session highs. The noted earlier set up of a clearly defined double bottom in place just above 55,300 has continued to provide the necessary platform for the further gains. A little earlier the price did try to move back closer to that support zone, but so far the move lower has stalled at around 55,650. Since then, the further rebound has taken it more than $1000 higher to back above 56,750 as this update is being typed. So all the time that 55,300 guards the bottom side there is clearly some further upside potential. As to how far that will take it is not clear. In any event it still has resistance in place at just above 57,000 and after that, both 58k and 58,975 might come into the equation once again. Bitcoin is just now trading at 56,780