Bitcoin Slips, Finds Support

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Bitcoin has slipped from relative highs at 57K, to test 55K. We are seeing support here from a green triangle on the KRI, and several green triangles before that, suggesting weakness in the bear bias of this retracement. We anticipate Bitcoin to hold support at 55K and potentially range further between this level and 57K. However, if we do break down, 52.8K and 50.8K are the next levels of support to the downside. We don't anticipate Bitcoin to give up the 50K handle any time soon.