Bitcoin is looking increasingly bullish as the top digital asset continues to gain strength above the February monthly high, at $58,300. The all-time-high for the BTCUSD pair, around the $61,600 level is the next major upside target for short-term bulls. If buyers are able to force a breakout above the $61,600 level then a major rally towards the $66,000 level remains extremely possible.
The BTCUSD pair is only bullish while trading above the $55,000 level, key resistance is found at the $61,600 and the $63,000 levels.
If the BTCUSD pair trades below the $55,000 level, sellers may test the $53,000 and $50,000 levels.