Bitcoin rebounds from earlier session low

Bitcoin has by and large traded sideways so far this week. The price did rebound yesterday, from an Asian session low at 59, 517, as was noted here in the morning update. That rebound went as far as 62,475 by the late European morning, but then it drifted back down again into the European close. The price has rebounded from as low as 60,357 yesterday evening, to as high as 61,863 a short while ago. The overall pattern appears to still be sideways inside an approximate 60-63k range. The overall trend does remain positive and the current consolidation could just be down to the immediate price action waiting for the longer term moving averages to catch up with it. That is not entirely clear though because the swings either side of the current 21 day moving average (right now at 61,282) are delivering some uncertainty in terms of the next move. The range so far today has been covered by 60,457 to 61,863. It is just now trading at 61,655