Bitcoin is trading back towards the lower end of its recent trading range after the top coin once again failed to move above the $60,000 level. The Bollinger Bands indicator on the four-hour time frame highlights that a breakout will take place once the BTCUSD pair moves away from the $55,450 to $59,700 range. A directional move of at least $5,000 is likely to take place once the range break finally occurs.
The BTCUSD pair is only bullish while trading above the $55,450 level, key resistance is found at the $59,700 and the $65,000 levels.
If the BTCUSD pair trades below the $55,450 level, sellers may test the $53,000 and $51,000 levels.
