Bitcoin Recovers Above the $50,000 Psychological Price Level but Struggles In

[Btceth01]

Bitcoin price has been recovering after falling to the low of $47,500 for the past four days. BTC/USD consolidated above the current support and retested it before resuming upward.
Today; it is trading marginally as it reached a high of $53,461. Sellers have resumed price tussle at the recent high. Nonetheless, if buyers break the current resistance and push the BTC price above the $58,000 support, Bitcoin will resume upside momentum.
Conversely, if buyers fail to sustain BTC price to the crucial support level, the market will resume selling pressure. BTC price will fall and retest or break the current support at $47,500. Further decline to $43,000 or $41,000 is possible if Bitcoin loses the $47,500 support. Presently the upward move is facing rejection at the $54,000 resistance zone. Source