Bitcoin stalls above 30,600 for the time being

The conditions seemed perfect for Bitcoin to make some progress today. Stocks were higher across the board and the dollar was lower, as were US yields in a relative way. That should have helped to propel Bitcoin, but so far it has not really done so. The lead cryptocurrency has tried and failed 4 times to rise above 30,600 today and each time the move has been rejected. The high seen earlier was set at 30,626 and now it is tracking back towards 30,250. Granted, we are talking about small moves here, when it comes to the more usual price ranges for BTC. Nevertheless, what cannot go up when it has all in its favour, might have to come down some more perhaps? Bitcoin is currently trading at 30,345