Bitcoin holding its nerve for now

Yesterday a quick news update warned that Bitcoin might fall further if the current moves elsewhere continued to play out. Well, as that did happen, eventually Bitcoin fell to fresh session lows, as it dropped through 29k just ahead of the 4pm London FX fix. That delivered a move to as low as 28,740. A rebound back to around 29,500 seemed to confound the moves that were still playing out elsewhere in the US markets last night. However, another attempt on the downside earlier this morning saw it drop back to as low as 28,616, but once again it has rebounded back above 29k again. The upshot is that it is holding up pretty well, but at the same time it has not made any progress. Therefore, it is still at risk to all that surrounds it and it remains to be seen if that risk will deliver further capitulation as the day unfolds. The range seen thus far today is covered by 28,616 to 29,370. It is currently trading at 29,005