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Bitcoin backs away from just above 37,500

The weekend price action in Bitcoin was pretty consistent with recent observations, in as much as it traded mostly sideways. However, it did start to lift when the Asian markets reopened yesterday evening and that rise, above 37k extended earlier today, to reach 37,524. That was relatively close to the noted double top at 37,973 that is still guarding the topside. However, it has backed off from there this morning. Hence, it remains unclear as to whether this topside level is likely to continue to cap the price action, or is yet a target for the market to aim at. The low seen since that earlier high has been set at 37,070. It is just now trading at 37,110
 

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