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Bitcoin on the rebound towards 58k again
As noted here earlier today, Bitcoin fell back in weekend trading after failing to sustain a move above 58k very early yesterday. The fall to below 54,500 earlier has now given way to a rebound very close to 58k once more. The high seen a short while ago was set at 57,865. The rise comes as the dollar slips versus the Euro and the Pound and US yields remain subdued. Also the rebound in the European stock markets now this morning is probably adding support as well. That said, BTC still needs to surpass its 200 day moving average, which has so far remained elusive since the end of last week. That is in place right now at 58,686. Bitcoin is currently trading at 57,620
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