Bitcoin takes out support at 55,255 as US stocks slide

The US stock markets have now given up on their earlier gains, but more on that in a moment in an update to follow. The slide back in stocks and generally higher dollar right now, especially versus Europe has served to send BTC sharply lower too. Earlier the lead coin managed to rebound back towards 57k, but stalled short of a prior support level, at 57,121 and that has now proved to be a resistance level on the way back up. Now BTC has taken out the noted support in place at 55,255. The low seen so far has been set at 54,739. There is not much in the way of further support this side of 52,945, but is not to say it will get there. Bitcoin is currently trading at 54,915