December 21, OctaFX – The recent strong move higher in Bitcoin is approaching critical resistance, with the BTCUSD pair currently trading firmly above the $4,000 level.
BTCUSD Approaching Critical Upside Level
Buyers now need to break the $4,400 resistance level in order to trigger a large bullish inverted head and shoulders pattern. If price moves back under the $4,000 support level, the BTCUSD pair could revisit the important $3,300 level.
- The BTCUSD pair strongly bullish while trading above the $4,400 level, key resistance is found at the $5,000 and $5,800 levels.
- If the BTCUSD pair fails at current levels, sellers may test towards the $3,500 and $3,300 support levels.
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