Bitcoin Price Watch: BTC/USD Could Rebound Towards $5,900

Key PointsBitcoin price extended declines below $5,330 and traded towards $5,200 against the US Dollar.
There is a major bearish trend line in place with resistance at $5,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price is likely positioning for an upward move above the $5,600 and $5,700 levels.Bitcoin price extended losses towards $5,200 against the US Dollar. BTC/USD is currently rebounding and it could correct higher towards $5,900.
Bitcoin Price Analysis
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