Bitcoin above $5200 as resistance line within bull channel hit

Bitcoin has become very bullish after regaining a steep bullish channel earlier this week and then breaking above $5000 today where it has reached an upper resistance line, prices may continue to hover over $5000 as that prior resistance level is sought as support. A break below $5000 could accelerate selling, whereas holding a bove $5000 will be key for support to be maintained in the immidiate term.