Bitcoin steady following rebound yesterday

The quite sharp rebound seen yesterday in many of the leading cryptocurrencies was led by Bitcoin as it ricocheted back above 10,700. Since that move higher, the price has stabilised so far today, but seems to be coming off the boil slightly ahead of the European opening. Earlier the lead coin traded to as high as 10,796, but it has now backed off to around 10,650. The rebound yesterday certainly delayed any further downside, but in truth the move is not yet exactly conclusive and looks linked to a similar rise in the US equity markets and the EUR/USD. Hence this is still very pivotal price action and only a move back above 11,200 would tend to indicate that the downside move is done with. At current levels that is not yet exactly clear and it is most likely going to depend on how the wider markets fare ahead of the weekend as to what next unfolds for Bitcoin