There is support at $53,500 and resistance at $56,500 and $60,000.
The bitcoin price has been increasing since reaching the local low of $47,000 on April 25.
Holding the $53,500 area is crucial to maintaining the bullish structure of the short-term uptrend.
Furthermore, the VPVR is in line with the monthly pivot and the aforementioned resistance area at $56,500.
The loss of this support line does not mean a reversal of the short-term bullish trend yet, as the price continues to hit higher lows .
BTC found support at $53,500 and is trying to regain an important area of resistance/support at $56,500.
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