Bitcoin was rejected at the 50-week moving average (50W MA). We need to close the weekly candle above it to confirm that the $57,000 marked the bottom and that the real bull market has started.
What’s worrying is that, the last two times Bitcoin was rejected at this point, there was a significant drop.
If $BTC closes below the 50-week moving average, the next support lies at $75,500. If this level breaks, the next key point to watch is the 200-week moving average (200W MA), which is currently around $65,000.