Bitcoin still consolidating

So far today Bitcoin has not done a great deal. The range thus far has been covered by 31,351 to 31,956. So, obviously it has rejected another move above 32k for the time being. Perhaps that is surprising because it did charge higher late yesterday afternoon. The move from just above 31,200 to 32,359 set a new high on the day and came just ahead of and after the 4pm London FX fix. However, it was not sustained into the wider US monthly close. The drop back so far today smacks of consolidation of the rebound seen last weekend. Beyond that the immediate price action is still very much trapped inside its 21 and 50 day moving averages. Those are right now at 29,806 and 34,647 respectively. Bitcoin is currently trading at 31,544