Bitcoin is continuing its recent record-breaking run higher above the $ 50,000 level, with the top crypto now testing above $ 51,000. An ascending triangle pattern, which is typically considered to be a bullish pattern, shows that $ 53,000 is the next major upside target. The MACD indicator on the four-hour time frame is also starting to trend higher after a notable correction.
The BTCUSD pair is only bullish while trading above the $ 49,000 level, key resistance is found at the $ 53,000 and the $ 55,000 levels.
If the BTCUSD pair trades below the $ 49,000 level, sellers may test the $ 48,300 and $ 47,600 levels.