Bitcoin is starting to consolidate recent gains just below the $4,000 level on Thursday, with the BTCUSD pairs price-action becoming increasingly bullish. If buyers can force price above the $4,400 level, a breakout towards the $5,000 level appears likely. Only a sustained loss of the key $3,700 support level can negate the short-term bullish outlook currently surrounding the number one cryptocurrency.

The BTCUSD pair is strongly bullish while trading above the $4,000 level, key technical resistance is found at the $4,400 and $5,000 levels.

If the BTCUSD pair trades below the $3,700 level, key support is found at the $3,450 and $3,330 levels.

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