BTCUSD BULLS NEED TO HOLD PRICE ABOVE $6,700
Bitcoin continues to trade towards the $6,650 resistance level in early Monday trading, after finding strong technical support just the $6,400 level on Friday. BTCUSD bulls now need to break above the $6,700 level to validate the bullish inverted head and shoulders price pattern across various time frames. BTCUSD sellers will attempt to break the key $6,400 level for a technical test of the $6,220 level.
The BTCUSD pair is strongly bullish while trading above the $6,700 level, further upside towards the $7,000 and $7,400 levels remains possible.
If the BTCUSD pair moves below the $6,400 level, sellers will likely test towards the $6,250 and $6,058 support levels.