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Bitcoin backs off after a brief look above 62,408
The breakdown in Bitcoin below a technical level at 62,408 was covered in a number of updates here this week. As you know that led to a new interim low at 58,528 on Monday. The rebound that has played out since then was holding below the breakdown at 62,408, but earlier today BTC managed to rise just above that level, when reaching 62,466. However, it has immediately backed off that now and that seems to suggest; that perhaps some short stops were in place just above the level. The drop back this morning has delivered a low at 61,570, set a moment ago. Bitcoin is currently trading at 61,628
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