BTCUSD testing cloud support
Bitcoin is coming under slight selling pressure on Tuesday after buyers failed to build bullish momentum above the $4,000 resistance level. The BTCUSD pair is testing Ichimoku cloud support on the four-hour time frame, with the $3,850 level major weekly support below. Bulls need to move price above the Kijun-Sen line, around the $3,975 level in order to regain bullish momentum.
The BTCUSD pair is only bullish while trading above the $3,850 level, key technical resistance remains at the $3,975 and $4,240 levels.
If the BTCUSD pair moves under the $3,850 level, sellers may test towards the $3,700 and $3,630 support levels.