Bitcoin Price Update
1. The $58,500 level is being retested and is seen as bullish support. This is good news if you are paying attention.
2. Open interest has dropped by about 11% since we last visited this area.
3. The $60,500 level is the next resistance area.
P.S. Altcoin open interest has been destroyed.
People are not actively using leverage to invest in altcoins. This is a good sign, but we need to hold $58,500 to get upside.