$BTC 59,800 - 61,000 seems to be a strong support line successfully defended by the bulls for today. As long as the price held a little bit longer, the price can climb up.
But, if this support level broke down, it can fall to 55K area.
Tips for spot traders:
Avoid buying when it's over-bought. Only buy at the lowest price on every support lines. Split your buying orders (don't buy bulk all at once).
Tips for future traders:
Avoid long position with massive amount of margin or high leverage. Sometimes, slippage happens when the price is defending it's support level.
Short position should be only executed if there's a sharp spike up on the price. Exit when you have your profit and stay away from a floating loss. A sudden bull run may happen without any particular reason (just like what happened for so many times before in the previous years)
Most of all, please trade safely and protect your margin. I wish you all the best!
