Bitcoin drops back below 58k

It has been a struggle for Bitcoin so far today. The lead cryptocurrency has simply been unable to make any further headway after it set in place an interim double top just below 59,500 earlier. That set up was notified here in an earlier update and now the price has just fallen below 58k in very recent trading. The move to session lows is not yet necessarily conclusive to any deeper retraction, but all the while it continues to languish there is always a risk that the current downside run will extend further below 58k. The low set just now was at 57,727 and the price action is rapid too, so its hard to pin down where this will be by the time the update is read. Bitcoin is currently trading at 57,960. The immediate risk would seem to lie with a potential further break below the noted double bottom in place at around 56,850