BTC Bounce Has Legs

After selling off sharply last week, Bitcoin continues to recover – marking the fourth straight days of gains.

BTC is consolidating again between $55,000 and $59,000 and while the recovery is encouraging, the overall trend is still bearish until there is a close above $60K. To turn this into an uptrend Bitcoin needs to break the previous high of yesterday where it left $59,000 and maintain the support above the previous low of $53,000 of November 28, 2021.