Bitcoin edges up from session lows

Bitcoin is trying to base now this afternoon. Earlier on it was noted here that the lead cryptocurrency was in danger of further losses today, if the price were to fall below the next noted support level, in place at around 37,700. At that time Bitcoin was trading at approximately 38,300. Well, not long after that update the price did crack that 37,700 support and as expected, the breakdown there led to a further downside extension. That eventually saw it fall to a session low of 36,494. It has just now recaptured levels back above 37k, but the rebound is far from convincing yet. It will need to at least reclaim that 37,700 level on a sustained basis to become a better prospect of being so. Hence, there are still downside risks in play this afternoon. It is also worth repeating here; just how important those interim double tops (and double bottoms) are, when trying to anticipate immediate price action, not just in Bitcoin, but across all the major coins. Bitcoin is just now trading at 37,115