Bitcoin slips back under 55k

Yesterday the further gains in Bitcoin saw it move above 55k. The lead cryptocurrency shot higher after a really dynamic move unfolded through 53k evolved ahead of the 4pm London FX fix. That delivered a move to as high as 55,422. At the start of the Asian session today it tried again to rise above 56k, but the move higher was reversed pretty quickly. The high seen at the start of the Asian session today was set at 55,749. The move lower since then has taken it back to as low as 54,154 a little earlier on. The important next upside resistance level, that was noted here yesterday morning, at 56,363 is therefore yet to be tested. The overall price action since yesterday remains sideways, as well demonstrated by looking at a chart of the price action over the past 24 hours. Bitcoin is currently trading at 54,690