Bitcoin has been trading in a range of $51,000 and $46,000 since December 4th.
On the daily chart, BTC rally is being capped by the EMA 200 resistance at $50,000. Unfortunately there was no extension move after an attempted test beyond that level. Bitcoin has now fallen back down towards the $48,000 mark and it looks like we’ll have to wait for this week’s big events (FOMC, retail sales) for a breakout of either side. If the resistance above $51,000 breaks, Bitcoin enters the Bulls’ yard otherwise, below $46,000 support Bears take over.
