After a prolonged consolidation, Bitcoin is prime for a breakout. We have near term resistance at $48,000, the 20 and 200-SMA and then at $52,000. Support is at $45,000. If Bitcoin breaks below the support level, we could see a violent decline as the price might trigger many stops. On contrary, if BTC moves above $48,600, the December 31st high, it could squeeze to $52,000. Whichever direction gives will determine the next big trend of BTC.
