Bitcoin extends breakdown losses into Asian trading

Yesterday all seemed to be going well for Bitcoin. The lead cryptocurrency made further progress. It further endorsed the rebound from that important trend line support area that has been identified here earlier in the week. Back then it was at 52,994, but owing to the shifting dynamics of the chart, yesterday it had risen to around 53,850. That did not seem to matter too much as the price climbed above 57k yesterday afternoon, rising to as high as 57.205. That further move higher came as the news emerged from Tesla; that their plan to accept Bitcoin for the purchase of their cars was now a reality. However, by the time of the wider US close it was not such a positive outlook because the price had by then broken below that rising trend line. The move below 53,850 was then extended upon in early Asian trading today. It fell to as low as 51,516, dragging many other leading coins lower with it. It has rebounded somewhat since, but yet to break back above the rising trend line that was broken. Bitcoin is currently trading at 53,135