BTCUSD bulls need to break $5,300
Bitcoin has so far had a solid start to the new trading month, with the number one cryptocurrency performing a strong daily price close. BTCUSD bulls need to move price above the $5,300 level to encourage new technical buying towards the current 2019 trading high. Caution is still advised in the short-term as a bearish head and shoulders pattern can be seen on the four-hour time frame.
The BTCUSD pair is only bullish while trading above the $5,200 level, key intraday resistance is found at the $5,300 and $5,620 levels.
If the BTCUSD pair trades under the $5,200 level, sellers may test towards the $4,900 and $4,750 support levels.