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Bitcoin buyers can ignore the recent choppy moves around $51,000, currently near $50,900, while looking at the cryptocurrency pairs ability to stay beyond the key supports during early Thursday. The BTC/USD optimism can also take clues from the bullish MACD signals to direct bulls towards a fresh high above $58,355.To get more news about WikiFX, you can visit wikifx official website.
However, a two-week-old horizontal area guards the quotes immediate upside below $52,650.
Hence, BTC/USD bulls need to cross the immediate hurdle to justify their hold on the e-currency.
In doing so, an upward sloping resistance line from January 27, currently around $54,800, can offer a breathing space during the quotes upside.
Meanwhile, pullback moves shouldnt be considered serious if staying above the immediate support line, at $48,860 now, a break of which will recall the BTC/USD sellers targeting a 200-bar SMA level of $45,480.
In a case where the BTC/USD bears dominate past-$45,480, tops marked during the early February and late January, respectively around $41,000 and $38,650, will be the key to watch.
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