BTCUSD working through cloud resistance
Bitcoin has been steadily working through Ichimoku cloud resistance on the four-hour time frame as the BTCUSD pair enjoys a late-week bid. The Ichimoku cloud is also showing that future key resistance for the BTCUSD pair is located around the $8,800 level. Bulls first need to break through the $8,400 resistance level to encourage the next round of technical buying.
The BTCUSD pair is only bullish while trading above the $8,400 level, key resistance is located at the $8,800 and $9,000 levels.
If the BTCUSD pair trades under the $8,200 level, sellers may test towards the $8,000 and $7,700 support levels.