Bitcoin (BTC) needs to reclaim THIS LEVEL to resume bull run

Bitcoin’s recent price action has spread fear over the whole crypto market, as participants are worried that the bull market might be over.

Yet, things can change very quickly in the crypto space, and there is still a probability of recovery.

On the 4-hour timeframe, the price action has been clearly bearish, with the market creating a bearish trendline that is still intact. However, with the recent rebound from $54K, the $57K level is currently being tested.

If the price breaks through $57K to the upside, a rally toward the bearish trendline could be expected in the short term. Yet, the overall bias remains bearish as long as BTC is trading below this trendline.

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