BTC Bounces but Trend Bearish

Bitcoin is currently in a tug of war between bulls and bears, fluctuating between the $58000 and $60000 range. Support is at the former breakout point of $54,000 where we also have fib 1.272 and additional support of the 100-EMA. If BTC resumes its rise, there’s resistance at $62300, the November 12th low. A strong close above that level would be needed for a run towards psychological resistance at $70,000. For the time being, the trend is bearish.