Bitcoin higher today but rebound is inconclusive

Yesterday, it was noted here; that Bitcoin had formed a base when it set in place an interim double bottom just below 50,500. The low point yesterday was at 50,440. Well, following that update the price did fall back again, but despite getting very close to 50,500, it did not fall below the level. The drop stalled at 50,569 and subsequently lifted higher again. That rebound took the lead cryptocurrency back to as high as 52,695 just ahead of the wider US market close. Today it has traded mostly sideways, but with a slightly elevated bias. However, it is yet to break above 53k. The high so far today has been set at 52,911. The noted resistance and previous breakdown level, at around 53,850 has also shifted again, owing to the ever changing dynamics of the chart. That now means that it will require a move to above 54,150 if the price is to reclaim levels above the important uptrend line that was broken earlier this week. Bitcoin is currently trading at 52,560