BTCUSD increasingly bullish
Bitcoin continues to build on its strong weekly trading gains, with the BTCUSD pair now targeting the $5,500 resistance level. The Ichimoku indicator on the daily time frame is highlighting that Bitcoin has now broken above key technical resistance, at $5,290. The $5,700 level now offers the strongest form of technical resistance if BTCUSD bulls can move price above the $5,620 level.
The BTCUSD pair is only bullish while trading above the $5,290 level, key intraday resistance is found at the $5,500 and $5,620 levels.
If the BTCUSD pair trades under the $5,280 level, sellers may test towards the $5,100 and $4,900 support levels.