BTCUSD Trendline holds
Bitcoin has staged a strong technical bounce after key rising trendline support held firm during the recent decline to the $53,000 level. The BTCUSD pair could test back towards the key breakout area from a symmetrical triangle pattern earlier this week, around $57,000. Failure to move the BTCUSD pair back above the $57,000 level could see the BTCUSD pair sold back towards the $53,000 support level.
The BTCUSD pair is only bullish while trading above the $55,000 level, key resistance is found at the $57,000 and the $59,400 levels.
If the BTCUSD pair trades below the $55,000 level, sellers may test the $53,000 and $50,000 levels.