Bitcoin Corrects Gains, Why BTC Remains Attractive Near $54K

[Hometown]

Bitcoin price started a steady increase and tested the $56,500 zone against the US Dollar. BTC is now correcting gains, with many supports near $54,000.

Bitcoin traded as high as $56,694 before starting a downside correction.
The price is still above the $54,000 support and the 100 hourly simple moving average.
There was a break below a key bullish trend line with support near $55,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to find a strong buying interest near the $54,000 support zone in the near term.source