There is a local Resistance Level around the 54K area, which has been created by the previous Triangle formation and this Resistance Level also lines up perfectly with the 0.382 Fib. Level as well. This was an important Level to overcome as it shows the Bears that the Bulls have not completely abandoned BTC.
However, the fight is not over yet as the ultimate challenge for the Bulls, if they want to overturn this Downtrend, is represented by the 57500$ Resistance Level. A successful breakthrough above this Level would restore a lot of confidence in the Market.
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