BTCUSD $54,000 Key

Bitcoin has tested back towards the top of its short-term trading range after breaking above the former key swing-low, around $51,100. Bulls need to hold the price above the $54,600 area to encourage further gains towards the $57,000 resistance level. If the $51,300 support level is broken this week then the BTCUSD pair could fall back towards the $47,000 technical support zone.

The BTCUSD pair is only bullish while trading above the $51,300 level, key resistance is found at the $54,600 and the $57,000 levels. If the BTCUSD pair trades below the $51,300 level, sellers may test the $49,000 and $47,000 levels.

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