April 11, OctaFX – Bitcoin has spiked to a fresh monthly trading high, hitting $5,454, as the BTCUSD pair continues to build bullish momentum above the $5,200 level.
BTCUSD price technical analysis
The $5,454 and $5,700 levels currently offer the strongest forms of technical resistance if the number one cryptocurrency advances higher. The MACD indicator on the four-hour time frame is currently showing bearish price divergence extending down to the $4,700 level.
The BTCUSD pair is bullish while trading above the $4,900 level, key intraday resistance is found at the $5,454 and $5,700 levels.
If the BTCUSD pair trades under the $4,900 level, sellers may test towards the $4,700 and $4,450 support levels.
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