The daily chart shows a clear path for Bitcoin to $53000 dollars as a part of a major correction after making an all-time high.
Bitcoin dropped to $55640 on November 19, 2021, and then yesterday it rose back to the $60,000 mark. However, due to an increased selling volume, it could not hold the price level at fib 0.786. The volumes are continuously dropping, we mentioned the bearish divergence when Bitcoin was at above $65,000 on November 15, 2021. The uptrend is exhausting and we still believe Bitcoin price will rest at $53,000 somewhere between fib 1.4 and 1.618.
