Bitcoin reclaims key support zone above $56k with 4% bounce

Bitcoin hit resistance around $59,982 on Coinbase on Tuesday, with the rejection resulting in a 10% decline that pushed prices to support near $53,500.

What bulls need, therefore, is a close above $58,054, which is a supply wall marked by the 61.8% Fib retracement level of the macro swing from $64,850 down to $47,061.

The breakdown levels of $53,300 and $52,700 offer support if sentiment turns south, with the main anchor likely at the 23.6% Fib level around $51,259.

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