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Bitcoin testing recent lows again

Yesterday Bitcoin did eventually rebound from a low at 63,240 late in the US session and that rebound eventually lifted it back above 64k earlier today. The lead cryptocurrency rose to a high at 64,467, but it is just now falling backwards again. If you look at a chart of the price action over the past two days you will see a series of three lows and that has formed a slightly upward facing trend line. In fact BTC just now hit that trend line when it fell to a European session low a moment ago, at  63,400. However, it is not out of the woods yet and a break below 63,400 from here on could deliver some further downside. Bitcoin is currently trading at 63,495
 

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