This is very strong support because:
1) Weekly
2) CLOSE
3) 10% reversal
4) TWO bullish support lines (green lines)
5) Horizontal support at the spread double bottom at 48
The green lines are in fact the main bullish support for the asset, whenever we hit this support we buy the asset with both hands, both feet AND a dick (with the boobs if you are a girl)
For some reasons price always moves, either it is pump & dump, news etc etc.
From TA point of view, 50s is strong support here.
In order to break from BTC rise, the latter will have to go above 600 at least.
This may happen of course but I suspect BTC will consolidate some time before it moves higher..
Time will tell!