BTC/USD bounces off one-week low after extending downside break of one-month-old support line. MACD flashes most bearish signals in two weeks. 50-day SMA adds to the support, February top can probe buyers beyond previous support. Bitcoin bears catch a breather around $54,850 following a heavy downfall to $53,756 on late Monday. In doing so, the crypto major portrays a corrective pullback after declining to the lowest in one week on the key support line breakdown. Even if the BTC/USD manages to bounce towards the $55,000 resistance, the sellers remain hopeful unless the quote reverses the latest trend line break. Also suggesting further downside could be the most bearish MACD since March 06. Hence, bitcoin bears can aim for an ascending support line from January 27, currently around $52,300, despite the latest recovery moves. Though, any further weakness will be challenged by the $50,000 threshold and 50-day SMA level of $49,970. Meanwhile, recovery moves beyond the $55,000 immediate resistance need to cross the previous support line, at $57,300, to challenge the February high of $57,567. Also likely to test the BTC/USD bulls is $58,980 and the $60,000 round-figure, a break of which will post a serious challenge to the record top of $61,774. BTC/USD daily chart Trend: Further weakness expected FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Ripple Price Prediction: XRP bounces as exchanges prepare to re-list it FX Street 1 year BTC/USD bounces off one-week low after extending downside break of one-month-old support line. MACD flashes most bearish signals in two weeks. 50-day SMA adds to the support, February top can probe buyers beyond previous support. Bitcoin bears catch a breather around $54,850 following a heavy downfall to $53,756 on late Monday. In doing so, the crypto major portrays a corrective pullback after declining to the lowest in one week on the key support line breakdown. Even if the BTC/USD manages to bounce towards the $55,000 resistance, the sellers remain hopeful unless the quote reverses the latest trend line break. Also… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.