Bitcoin appears increasingly bullish in the near-term, as the pioneer cryptocurrency continues to appear comfortable above the $50,000 level. The BTCUSD pair has performed a bullish breakout from an ascending triangle pattern on the four-hour time frame. The MACD indicator on the four-hour time frame is also trending higher again, following a short-lived price correction.
The BTCUSD pair is only bullish while trading above the $48,500 level, key resistance is found at the $53,000 and the $55,000 levels.
If the BTCUSD pair trades below the $48,500 level, sellers may test the $46,500 and $45,000 levels.