After an unsuccessful attempt to rise above $48000, the price of Bitcoin dropped during the working week and reached a low of $43935. After which it began to recover and finally rose above $48000. At the time of publication, Bitcoin is trading at $48350.
At the moment, the BTC/USD pair is trading above the 100th moving average and has overcome the important resistance level of $48000. This opened the way for the BTC/USD pair to an important psychological level of $50000. On the way to this mark, Bitcoin does not have strong resistance levels. So in the coming hours, we can see an attempt of the BTC/USD pair to overcome the $50000 level.
If the pair breaks the $50000 level, it has a chance to repeat the previous price movement and reach the $60000 level. However, before that, it will have to overcome the resistance in the area of $52000, and further additional resistance can be expected at the level of $53000, $54000, $56000.
In the case of a decline, the BTC/USD pair will receive support around $46000. This is the closest serious support to the current situation.
