Bitcoin is trading close to a three-week high after the top cryptocurrency bounced sharply from its 50-day moving average. Bearish MACD price divergence has formed across the lower time frames, which is providing a warning sign of a potential pullback. If the bearish divergence is reversed the BTCUSD pair may need to drop back towards the $55,000 support zone.
The BTCUSD pair is only bullish while trading above the $56,800 level, key resistance is found at the $58,800 and the $60,000 levels.
If the BTCUSD pair trades below the $56,800 level, sellers may test the $55,000 and $53,000 levels.
