Bitcoin - A clear reversal is needed for bullish trend

Bitcoin is currently trading in the support zone around the $58,000 range. This support level has been tested multiple times and has held strong each time.

For the bullish trend to continue, we need to see a clear reversal from this $58,000 zone. However, a breakdown from this support could push the price further down to the $54,000 range.

At this moment, it’s uncertain which direction the price will move, but I’m optimistic that it will trend upward since the support has held strong multiple times.

Follow our TradingView account for more technical analysis updates. Like, share, and comment with your thoughts.

Cheers,
GreenCrypto