BTCUSD has broken major resistance around $5720 after a long consolidation. It hits low of $3215 on Dec 15th 2018 from all time high of $19891 made on Dec 17th 2017 (more than 80% sell-off). The pair hits intraday high of $6145 and is currently trading around $6042.
Overall trend is as long as support $5197 (300- day ).After a long time the pair has closed for continuous one week above 300- day confirms major trend reversal and a jump till $6600/$7400 possible.
On the lower side, near term support is around $5457 (23.6% fib) and any break below will drag the pair to next level $5197 (300- day ) and any daily close below $5197 confirms further weakness , decline till $4530 (200- day MA)/$3700 is likely.
In (50) is showing Divergence and a minor decline till 5500-5600 is possible. Use this dip as buying opportunity.
It is good to buy on dips $5650-5700 with SL around $5150 for the TP of $7400.