Bitcoin Price Analysis: BTC Trades Near Key Juncture

[RSRS]

Bitcoin price gained pace and it cleared the $48,000 resistance against the US Dollar.
The price is now trading above $47,000 and the 55 simple moving average (4-hours).
There was a break below a key bullish trend line with support near $49,000 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase).
The pair must stay above the $47,300 support level to continue higher in the near term.
Bitcoin price is losing pace above $48,000 against the US Dollar. BTC is likely to correct further lower below the $47,300 level in the near term.

Bitcoin Price Analysis
Bitcoin price extended its increase above the $48,000 resistance level. BTC even broke the $49,000 resistance level to move further into a bullish zone. However, the price failed to gain strength above the $50,000 resistance.

A high was formed near $50,550 before the price started a downside correction. There was a break below the $49,000 and $48,500 levels. There was also a break below a key bullish trend line with support near $49,000 on the 4-hours chart of the BTC/USD pair.

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