Bitcoin has slipped from relative highs at $57K, to test $55K. We are seeing support here from a green triangle on the KRI, and several green triangles before that, suggesting weakness in the bear bias of this retracement. We anticipate Bitcoin to hold support at $55K and potentially range further between this level and $57K. However, if we do break down, $52.8K and $50.8K are the next levels of support to the downside. We don't anticipate Bitcoin to give up the $50K handle any time soon.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.