This is the first of the '8 little Preludes & Fugues' by Bach or Krebs. This piece totally convinces me that at least this prelude & fugue are composed by Johann Tobias Krebs, the father of the famous Johann Ludwig. Especially when you compare this prelude to another work by him, which you can find here: https://tinyurl.com/ybn3osjk
Look at bars 5-7 of this piece and compare it to bars 5-8 of the prelude BWV 553. I think that says enough.