Bitcoin rebounds from lows near 112,500

A series of updates here on Bitcoin  yesterday continued to echo what had been said previously about the current daily chart configuration not being supportive to the price action. Indeed, the final update here later yesterday afternoon warned on the prospect of it falling below 114k again and taking out all the previous interim lows both ahead of that level and below it. Well, that is exactly how it played out ahead of the US stock market close. BTC slumped to 112,762, after it fell below the earlier Asian session low at 114,460. Earlier this morning it fell a little further, dropping close to 112,500, but it has edged off the lows now, but not come close yet to recovering the breakdown level (114,460) seen yesterday. The range seen so far has been covered by 112,593 and 113,696. Bitcoin is currently trading at 113,640