$BTCUSD Near to medium term key levels. About to break higher?

Bears really trying to turn the price back from a key weekly level (dotted horizontal level at approx. 49k). Bulls need to protect 47k if they want to see this higher in the near term. Else, we may see 44k again and maybe another re-test of 40k.

OTOH, if 49k breaks, the resistance level to watch is 53k. Break that and we likely see 60k again soon.

I do think the bulls have a bit more edge simply because of the strong preceding LTF bull leg from the 28-SEP low.

Consolidating below resistance after a strong bull leg is often bullish.