BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBuying the dip? $53,000 is “logical”
The area near $58,000, which had proved a sticking point for bulls earlier in the year, returned to haunt them on the day, something which did not come as a shock to analysts.
“Not surprising to see this $56-$58K area providing some resistance as there is a good amount of overhead supply there from earlier this year,” William Clemente commented.
“~$53K would be a logical area to buy a dip.”BTC/USD 1-day annotated candle chart (Coinbase). Source: William Clemente/ Twitter
That level represents both