Bitcoin drops back after reclaiming 60k in weekend trading

An update here on Friday begged the question and raised the outlook for Bitcoin to rally over the weekend. Well. subsequent to that  update that is exactly what played out, as it lifted further on Friday and once above 58,500 it pushed onto 60k and extended the move very early on Saturday morning. The high seen that day was set at 60,669 and hence some distance above the still falling 50 day moving average, in place then at around 59,800. The price action later on Saturday saw it drop back to a low at 59,475, before resuming on the upside into Sunday morning, where it later stalled just ahead of 60,400. Since then it has fallen back today and set a low earlier to 58,129 That means it is once again trading back below both the 50 and 100 day moving averages (in place right now at 59,580 and 61,460). Bitcoin is currently trading at 58,625