Bitcoin testing 4500 with a break higher targeting 5000

Nice close on BTCUSD yesterday after pair found a solid bid above key support confluence. Pair is currently up on the day and actively testing 4500. A Break above 4500 would target the all time highs around 5000:

Over the short term, pair remains bullish above today's open at 4375. As far as the bigger picture's concerned, I'd like to see yesterday's lows hold, though there is room for a little noise down there without breaking the trend.

Overall outlook is constructive, but be on the watch for a lower high somewhere between here and 5000.

This analysis also featured on meanfxspreads.com


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