Bitcoin consolidates Friday Breakout move

The noted move above resistance at 45k on Friday morning in Bitcoin set the lead cryptocurrency on track for further gains over the weekend. Well, for most of the past two days that did not happen, as the price ranged in between 47k and 49k. A move beyond 49k yesterday evening saw it trade to as high as 49,217, but it then backed away into the Asian opening today. The price fell back further a little earlier this morning, reaching 47,280 not that long ago. Essentially, it has therefore been pivotal around 48k, with so far an inability to reclaim the 50k handle. The breakout above 45k is positive from a technical perspective and all the while it remains above 45k on a sustained basis there is reason to look for more upside. The price action since that break suggests consolidation before the next directional move. Bitcoin is just now trading at 47,830