BTCUSD sellers fail to capitalize
Bitcoin is once again testing towards the $3,660 resistance level, after sellers failed to capitalize on the early week drop below the key $3,485 support level. The broader cryptocurrency market enjoyed a decent rally on Wednesday, although the BTCUSD pair added only marginal gains on the day. A break of the $3,300 to $3,960 price range is needed before the next short-term trend can be established.
The BTCUSD pair is only bearish while trading below the $3,485 level, key technical support remains at the $3,300 and $3,100 levels.
If the BTCUSD pair breaks above the $3,660 level, key resistance is then found at the $3,960 and $4,220 levels.