Bitcoin rebound not yet conclusive

The rebound in Bitcoin yesterday saw the lead cryptocurrency reverse the very sharp fall that took to as low as 56,886, from the earlier high at 59,807. That move had unfolded just after the European opening yesterday and surely surprised a good many traders and pundits. There was no real excuse for the move and so by the time of the 4pm London FX fix price had risen back above 59k again. However, and despite that recovery, it was not able to surpass the previous high at 59,807. That has been the case earlier today, with it peaking at 59,325 earlier on. It has traded mostly sideways in Asia today, but with a slight downside bias. The low set earlier was at 58,577 which is important as it is above the noted 58, 500 interim pivot level. As also noted here yesterday, all the while that level generally remains intact, then there is potential for another attempt at rising to test the 60k level once again. Bitcoin is currently trading at 58,885