Bitcoin unable to hold gains above 57k in Asian trading

Well, it did not look likely yesterday, but eventually Bitcoin has managed to reclaim the 57k handle earlier in the Asian session today. The lead cryptocurrency rose to as high as 57,162. However, it soon reversed that rise and then fell back to as low as 55,222. It is trying to rebound again now, but has not yet gotten that close to 57k again. That might happen when the European markets resume trading, but it is by no means guaranteed. The overall trend higher is still intact, but the drop back yesterday, to as low as 53,288 has undermined the momentum. There can be little doubt about that. The coin is currently trading within a range defined by the 10 day moving average on the top at 56,800 and the 21 day on the bottom, at 52,228. However, both are still rising which is a positive overall, but a break below 53k from here would not serve it well right now. Bitcoin is currently trading at 56,125