BTCUSD Bearish Continuation

From tickmill.com

Type: Bearish Drop Key Levels: Resistance: 59598.53 Pivot: 57492.35 Support: 53539.23 Preferred Case: Price is abiding to the descending channel, signifying bearish momentum. We can assume that price would push further down from the pivot level in line with 61.8% Fibonacci retracement towards 1st Support in line with 61.8% Fibonacci projection. Alternative Scenario: Alternatively, price could bounce up from pivot level towards 1st Resistance in line with 61.8% Fibonacci projection and 38.2% Fibonacci retracement