Bitcoin Bounces To $58K, Why Bears Could Spill More Blood

Bitcoin Bounces To $58K, Why Bears Could Spill More Blood

After one of its most bloody days in 2021, Bitcoin is trying to reclaim critical support above $58,000. A daily close north of this target could push BTC’s price back to the $60,000, but still a long way from a confirmed recovery.

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As of press time, Bitcoin trades at $58,137 with sideways movement in the daily chart.

BTC struggles at $58,000 in the 4-hour chart. Source: BTCUSD Tradingview

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Bitcoin started its downward trend immediately after scoring a new-all time high at $69,000. The benchmark crypto lost support at $60,000 after a relentless battle between bulls and bears and took another leg down finding support at $55,600.

As many experts claimed, the

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