Bitcoin breaks above downside resistance

The price action on Bitcoin over the past 24 hours has seen it break its most recent trend of lower interim highs. That actually came yesterday, when it rose above 48,300. The move has now extended to as high as 49,581 a little earlier this morning. The next stop is obviously the 50k handle which is a level it has not revisited since December 13. The price could extend above that level too, but of course it has to get there first. The rebound and close above its 200 day moving average (now at 47,236) has been a factor in helping it higher since yesterday too. The range seen so far today has been covered by 48,623 to 49,581. The rise this morning has also seen it lift above its 21 day moving average as well (now at 49,187). It is currently trading at 49,235