Strong weekly support at $56,000-$54,927

6 Eyl

Strong weekly support at $56,000-$54,927 has been respected on several occasions. This suggests accumulation of buyers in that area and the possibility of a bullish rebound. Recent candles indicate a double bottom and little selling pressure, reinforcing the idea of a potential rise towards $58,000 or higher. However, if the support is broken, the price could look for lower levels around $52,000.