Bitcoin Technical Analysis: BTC/USD $5000 the new bottom but must hold

• Bitcoin price on Friday in the latter part of the session, holding modest gains of some 1.80%.
• BTC/USD near-term price action well supported by an ascending trend line.  
• The big psychological area of $5000 is likely to act as the new bottom.  

Spot rate:                  4986.19

Relative change:       +1.80%

High:                         5057.99

Low:                          4886.45

BTC/USD 60-minute chart

• The price well-supported by a near-term ascending trend line, which is around the new potential bottom area of $5000.  

Bitcoin Technical Analysis: BTC/USD $5000 the new bottom but must hold

• Price action moving within a bullish pennant pattern formation, subject to further moves north.