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The Bulls are still defending the local Support Level around the 53500$ area

So far they have been successful as the Bears were unable to push the price through it and no candle has been closed below this level.

We have seen a decent push towards the Resistance Level at 57500$ yesterday but it has failed as the Fib 0.5 level has rejected the price and now BTC, once again, trading around the Support Level.

The Bulls need to step up their game because with every re-test, the Support Level gets weaker and weaker and if it breaks, then the possibility of BTC revisiting the 51K area could increase significantly.

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#crypto #cryptocurrency #btc #trade #trading

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