Bitcoin Analysis 👇

Bitcoin (BTC) is in a bearish trend, trading below the 50-day and 200-day EMAs.

A break above the 200-day EMA and the $60,365 resistance levels will support a move towards the 50-day EMA. Also, a break above the 50-day EMA could allow the bulls to reach the $64,000 resistance level.

A drop below $57,500 could signal a drop towards the $55,000 level. A drop below $55,000 could bring the $52,884 support level into play. With a 14-day RSI of 45.30, $BTC could drop below $55,000 before entering the oversold zone.

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