Bitcoin Retest Resistance

Bitcoin prices did a bullish rebound after several consecutive sessions of decline, reaching its lowest level during the previous trading session at 47,490.

On the technical side, Bitcoin found a solid support floor around the aforementioned level, while the stochastic indicator started to show positive signs. We may witness a bullish bias during the coming hours, targeting a re-test of 51,980 first target, and gains may extend later to visit 52,050.

Trading again below 48,600 will stop any attempts to rise, and Bitcoin will witness negative moves targeting 47,490, and then 46,660.

Note: The risks are high

S1: 48610	R1: 51980
S2: 46365	R2: 53100
S3: 45250	R3: 55350