BTCUSD weekly close important
Bitcoin is consolidating towards the $7,300 level as traders remain undecided towards the number one cryptocurrency. A second bullish weekly close above the BTCUSD pair 52-week moving average could signal an upside reversal next week. Overall, BTCUSD bulls need to move price above the $7,700 level to force a technical breakout from the falling wedge pattern.
The BTCUSD pair is only bullish while trading above the $7,770 level, key resistance is located at the $7,850 and $8,200 levels.
If the BTCUSD pair trades under the $7,300 level, sellers may test towards the $7,000 and $6,800 support levels.