Bitcoin rebound still looks corrective

Yesterday, following the final update here on its progress, Bitcoin did rise some more. The lead cryptocurrency lifted to as high as 51,970 and that high, rather unsurprisingly came right on the 4pm London FX fix. Look, it has been noted here many times already; just how often that 4pm fix delivers a session high, or low for BTC and yesterday was just another in a long line of such examples. The price action since then has not been so positive, as BTC fell back again during the early part of the Asian session, but it was already giving back ground into the wider US market close last night. The range seen today has so far been covered by 50,075 to 50,841. The stalling ahead of 52k yesterday does rather suggest some reluctance to take this much higher and clearly the rebound from last weekend is more corrective, than it is yet dynamic. Bitcoin is just now trading at 50,570