Bitcoin appears has staged a minor technical pullback from just under the $53,000 level, although the bullish short-term trend appears far from over. Any technical corrections back towards the $50,000 support area may be a buying opportunity for the next upside target, which is $55,000. A recent bullish breakout from an ascending triangle pattern is helping provide the upside target of $55,000.
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.
