Support above the $42K-$45K breakout should hold.
Initial support around $48K could stabilize the pullback.
Upside momentum is strengthening on daily and weekly charts, which suggests buyers are in control.
Buyers will likely remain active on pullbacks into the weekend.
Support at $42K-$44K could stabilize the pullback.
The cryptocurrency is down 3% in the last 24 hours.
BTC is trading around the 200-day moving average and will need to break out of a short-term range to resume the uptrend.
Bitcoin's uptrend is improving despite brief pullbacks.
The ETH/BTC ratio is holding support above 0.05 and could face initial resistance near 0.08.
Resistance near $50,000 to $55,000 could stall the recovery given short-term overbought signals.
Bitcoin is up about 20% over the past week, compared to a 25% rise in ether, the world’s second-largest cryptocurrency by market value.
Bitcoin and ether remain well bid as U.S. senators reach a compromise on the crypto provision of the infrastructure bill.
Buyers could remain active on pullbacks this week as bitcoin cleared important technical levels.
Strong overhead resistance could limit price rallies into next week.
Ether is up 3% over the past 24 hours.