Bitcoin is Establishing a Bottom at $53K Area

BTC is bearish in the short term but still good investment in the long term.

I think if BTC wants to go for ATH break, it needs to establish a strong support in the $53K zone.

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Target hit. No long entry until we see a reversal sign which is still not highly probable. Pandemic news is on fire now and economy concerns are appearing again.

If the current support level at $53K is not held, we might visit $49K and $42.5K.

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So BTC did not held the support @ $53K and fell down to the target we mentioned in the previous comment ( $42.5K ).

Still looking for a better entry.