BTCUSD extremely overbought
Bitcoin has surged above the $10,000 level for the first time since March 2018 as bulls broke through the five-figure mark with ease. Short and medium-term technical readings are extremely overbought at present, leaving the BTCUSD pair open to large profit taking. Failure to make new higher highs may attract a move back towards the $10,000 level.
The BTCUSD pair is bullish while trading above the $10,600 level, key resistance is located at the $11,000 and $11,400 levels.
If the BTCUSD pair trades under the $10,600 level, sellers may test towards the $10,000 and $9,800 support levels.