Bitcoin rebound stalls ahead of 60k

Yesterday evening as the Fed did nothing and repeated the same message, the stock markets went up and the dollar went down. As noted here at the time; that set the ideal conditions for Bitcoin to take advantage of and it wasted no time in doing just that. The lead cryptocurrency was already moving higher anyway and when it lifted above 57k again that was the catalyst for more upside. What was not mentioned here yesterday; was the fact that 57k is the current pivot point between the most recent high above 61k and the most recent low around 53k. That is why it looked possible for a break below 55k to extend to the downside, if it took out 53k yesterday morning. Well, in the event it did not do that and 54k (54,148 to be exact) capped the downside yesterday. Well, the move higher yesterday evening continued into the Asian session overnight, but so far it has not managed to reclaim levels above 60k let alone take on 61k. That might happen of course and the chances of it doing so will remain elevated all the while the price hold above 57k again. Bitcoin is just now trading at 58,425