Bitcoin has pulled back from a new all-time high this morning after the pioneer cryptocurrency met with sellers just before the $49,000 level. A bullish breakout from a falling price channel continues to predict a coming rally towards the $50,000 resistance level. Traders that are bullish towards the BTC pair may attempt to buy a pullback towards the $46,000 support area.

The BTCUSD pair is only bullish while trading above the $47,000 level, key resistance is found at the $49,000 and the $50,000 levels.

If the BTCUSD pair trades below the $47,000 level, sellers may test the $46,000 and $45,000 levels.