Following an earlier update here today, Bitcoin did manage to rebound from its earlier session low at 53,288. The lead coin rebounded to as high as 56,412 as the morning progressed. However, it did not manage to reclaim levels above 57,000 and now it has turned lower again. It has now fallen back below 55,000. Of course this is not conclusive to very much at this stage, but the continued failure to reclaim levels above 57k might soon start to weigh on the market if it continues. Clearly there is a downside risk still in place today and that would be increased if the price were to drop back below 54k again. That could lead to an immediate test of the current 21 day moving average that is in place right now at 51,800. Bitcoin is just now trading at 54,895