BTCUSD watching $3,485 level
Bitcoin continues to consolidate around the worst trading levels of the week, with the BTCUSD pair currently unable to build a sustainable rally above the $3,660 level. The $3,485 level is now the key intraday region to watch, as it represents the lowest trading level for BTCUSD pair since it started to surrender recent gains. The MACD indicator on the four-hour time frame has also corrected to neutral and awaits the next directional move.
The BTCUSD pair is strongly bearish while trading below the $3,485 level, key technical support is found at the $3,300 and $3,100 levels.
If the BTCUSD pair trades back above the $3,660 level, key resistance is found at the $3,960 and $4,200 levels.