Bitcoin is starting to gain upside momentum in the short-term after breaking past the $6,000 resistance level on Thursday. An ascending triangle pattern has formed on the lower time frames and is warning of a strong directional move. Gains above the $6,000 level should see the BTCUSD pair rallying towards at least the $7,200 technical area. Failure to move above the $6,400 level could result in a technical pullback towards the $4,900 level.
The BTCUSD pair is only bullish while trading above the $6,000 level, key resistance is found at the $6,400 and the $7,200 levels.
If the BTCUSD pair trades below the $6,000, sellers may test the $5,500 and $4,900 support levels.
