In my last post I informed you that the BTCUSD pair was in a bullish pennant and it successfully broke out of it. However, there is a strong resistance level from 49,380 to 49,570 and so the price keeps hovering around this region. The red line represents the VPVR POC which indicates that there is also a lot of transactional pressure at 49,234 and so the price keeps bouncing around there as well. I would like to see Bitcoin break successfully above 49,600 as we eye the 50,000 price.
