Bitcoin has staged a solid technical bounce after once again finding strong buying interest around the $45,000 support region on Tuesday. Technical analysis highlights that the $45,000 level is a major new pivot point and a potential launch area for $50,000. To the downside, a sustained loss of the $45,000 level could cause a retest of the former yearly high, around the $42,000 support zone.
The BTCUSD pair is only bullish while trading above the $45,000 level, key resistance is found at the $48,200 and the $50,000 levels.
If the BTCUSD pair trades below the $45,000 level, sellers may test the $43,500 and $42,000 levels.
