Bitcoin reclaims 11,500

The move lower in the dollar and gains for US equity markets and oil and Gold have all combined to help Bitcoin reverse its earlier session losses that saw the lead cryptocurrency fall back to around 11,360. The rebound back above 11,500 this afternoon is by no means conclusive and the price will still need to recapture levels above 11,700 in order to increase the chances of a further move back towards 12,000. That might require some doing and of course much will depend on how those other markets play as the day unfolds. As noted here this morning; Bitcoins life is still not its own and it is clearly still taking a lead from where those other markets direct it. Nevertheless, for fans of Bitcoin, the move back above 11,500 is surely first step to making some more progress if it can. Currently, it looks like 11,300 to 11,700 are now the immediate lines of demarcation guarding against a wider move. Bitcoin is just now trading at 11,525