Bitcoin Slips, Finds Support

by David

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.