Profit takers continue to sell Bitcoin as the greenback rallies alongside higher US yields and even higher US stocks. As of writing, the Bitcoin price is trading above $56k but the consolidation above this level has formed a bear flag, signaling more downside for the honey badger of money in the near term. Based on the chart data, the nearest downside support falls slightly under the $50k level where we believe long entries from eager buyers could push the price up to as high as $54k.