Bitcoin falls below 54k following technical breakdown higher up

Yesterday Bitcoin continued to build a base as the price recovered from a European morning session low at 54,741. That saw the price reclaim 57k and a series of higher lows added to the momentum higher towards end of the US session. However, it was not able to establish itself back above 57k. That inability later saw the price break below the upward trend line it had from from the start of the European session. The breakdown came earlier today in the Asian session when the price dropped below 56k. That trend line break also coincided with a move below the 10 day moving average which added to the selling pressure. That has seen the price fall to as low as 53,288 so far. The next level of support of any note is now at 51,745 which is where the 21 day moving average presently resides, but please remember this is very much a moving target too. Bitcoin is currently trading at 53,690