The Crypto Daily – Movers and Shakers – May 5th, 2021
It was a particularly bearish day. Bitcoin slid from an early morning intraday high $57,166.0 to a final hour intraday low $53,067.0.
The extended sell-off saw Bitcoin fall through the first major support level at $56,124 and the second major support level at $55,100.
The near-term bullish trend remained intact in spite of the slide back to $53,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $27,237 to form a near-term bearish trend.
