BTCUSD bulls still in control
Bitcoin has started the new trading month with a slight bullish bias, as the key $3,700 support level continues to be defended on moves lower. Indicators on the daily time frame are trending higher, although the recent upward momentum is weakening. BTCUSD buyers must now break above the cryptocurrencies former monthly highly in order to keep the short-term bullish momentum intact.
The BTCUSD pair remains bullish while trading above the $3,700 level, key technical resistance is now found at the $4,000 and $4,300 levels.
If the BTCUSD pair trades below the $3,700 level, key support is found at the $3,550 and $3,330 levels.