Bitcoin is once again attempting to recover higher after sellers failed to take out the technically $46,000 support level over the weekend. A triangle pattern has formed over the lower time frames and warning of a big breakout once the $46,800 to $50,800 range is broken. A bullish breakout from the triangle pattern could see the BTCUSD pair rallying towards the $54,000 area.
The BTCUSD pair is only bullish while trading above the $50,700 level, key resistance is found at the $53,000 and the $54,400 levels.
If the BTCUSD pair trades below the $50,700 level, sellers may test the $46,000 and $44,000 levels.
