7 May 2019, OctaFX – In this Bitcoin price analysis, BTCUSD is recovering higher as it starts to receive a fresh round of buying demand in early Tuesday trade with the number one cryptocurrency breaking through the $5,800 resistance level.
BTCUSD technical analysis
The $5,620 is now former key resistance turned key support if the BTCUSD pair moves below the $5,800 level. Overall, the BTCUSD pair is targeting the $6,000 level and possibly the $6,300 resistance level.
The BTCUSD pair is bullish while trading above the $5,620 level, key intraday resistance is found at the $6,000 and $6,300 levels.
If the BTCUSD pair trades under the $5,800 level, sellers may test towards the $5,620 and $5,480 support levels.
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