BTCUSD triangle break underway
Bitcoin has performed a bullish breakout above a long-term triangle pattern on the daily time frame, with the number one cryptocurrency test the $4,000 resistance level. The BTCUSD pair had been trapped inside the symmetrical triangle pattern since last December. The overall projection for the upside breakout would take the BTCUSD towards the $5,200 resistance level.
The BTCUSD pair is bullish while trading above the $3,900 level, key technical resistance remains at the $4,100 and $4,240 levels.
If the BTCUSD pair moves under the $3,900 level, sellers may test towards the $3,700 and $3,630 support levels.