Bitcoin reclaims technical level

The rebound today from the Asian low in Bitcoin has now extended further. It was noted here earlier today; that BTC had formed a clearly identifiable double bottom at just above 58,100 and now that base has been extended further upon. The lead cryptocurrency has now lifted to test the 21 day moving average to the upside. As already mentioned, that was the technical level that it broke below yesterday and that break led to the downside extension towards 58k. The move higher right now is not entirely conclusive yet and it remains to be seen how the price action will fight out. That is to say; whether or not it will re-establish itself above this technical level, or after flirting with it, back down once again. Of course it still has the 60k level to contend with after that too. BTC is currently above its 21 day moving average, just now trading at 59,820