BTC briefly dipped down below the Support at 53500$, which was enough to wake the Bulls up as they stepped in and quickly pushed the price back above.
This has created enough momentum to carry the price higher and the 0.5 Fib Level is once again being challenged.
The Bulls need to maintain the buying pressure at elevated levels because a fair amount of momentum will be required to push the price up towards the Resistance Level at 57500$.
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