BTCUSD recovery underway

Bitcoin is on the rise as the new trading week begins as sellers failed to build on last Friday’s sell-off below the $7,000 support level. BTCUSD bulls could soon attack towards the $7,700 resistance area if they continue to gain traction above the $7,000 level. A sustained breakout above the $7,460 level is likely to increase technical buying interest towards the BTCUSD pair.

• The BTCUSD pair is only bullish while trading above the $7,000 level, key resistance is found at the $7,460 and the $7,700 levels.

• If the BTCUSD pair trades below the $7,000, sellers may test the $6,750 and $6,550 support levels.