While not pinpoint accurate, BTC looks to be developing reliable support action around the $52k-$54k region. While this may be encouraging as a consolidation sign for a new floor, the trouble we've been having breaking $60k leads me to believe that we still would benefit greatly from the drop into the $40's, to really refresh some buying momentum. However, if we continue to bounce around this region for another extended period, that buying pressure may solve itself as we become more confident that this may be a new major support area.