Ether wants it but Bitcoin is still not having it

Yesterday Bitcoin was helped by Ether once again, as just noted in the previous update. The lead cryptocurrency managed to reclaim an early downside move that saw it dip briefly below 54k. The subsequent rebound was not very dynamic though for most of the session as the rebound stalled above 55,500. There was a spike to around 56,500 as Ether reached a new record, but that move was soon reversed and the correction lower once again undermined Bitcoin completely and it is back below 54k again this morning. The range so far today has been set at 53,553 to 55,220. The price is currently back below 54k again as this update is being typed. The technical picture sees that Bitcoin is currently sandwiched in between the 100 day moving average (now at 50,446) and the 50 day moving average (now at 56,975). That range may persist again today and really only a sustained break above 57k from here is likely to open the topside in a more dynamic way. Bitcoin is currently trading at 53,915