Bitcoin shies away from 17k

Yesterday, after the 4pm London FX fix, Bitcoin made another move to the upside. The lead cryptocurrency lifted above 16,500 to trade to as high as 16,889 around the time of the US equity market close. That move almost reached the previously noted, next objective that had been outlined here last week. That was just above 16,900 and so it has pretty much met that now. The price then fell back, but not below 16,500, later rebounding again, but stalling short of 16,900 once more. It has tailed off a little more overnight, but 16,500 is capping any downside move for the time being. The price has traded in a range today, so far covered by 16,573 to 16,838 and it is currently trading at 16,663