Bitcoin bulls deflated as SEC says 'no' to leveraged fund

Primary support at $58,115 critical for near-term direction

  
Representations of the virtual currency Bitcoin stand on a motherboard in this picture illustration taken May 20, 2021.

Representations of the virtual currency Bitcoin stand on a motherboard in this picture illustration taken May 20, 2021.

REUTERS/Dado Ruvic/Illustration

* Bitcoin cautiously higher Thurs after bounce off 23.6% Fibo

* Primary support at $58,115 critical for near-term direction

* Failure to close above exposes Bollinger downtrend channel

* If it ends below $57,053 bearish bias will take over

* SEC says 'no' to leveraged bitcoin fund - WSJ 

* The first SEC-approved ETF earlier triggered BTC record high

* For more click on FXBUZ

(Ewen Chew is a Reuters market analyst. The views expressed are his own.) ((Ewen.chew@thomsonreuters.com))


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