BTCUSD $9,900 breakout needed
Bitcoin has started to turn lower on the week after buyers failed to move price above the $10,000 resistance level yesterday. Technical analysis shows that a breakout above the $9,900 level will activate a bullish reversal pattern on the lower time frames. According to the size of the pattern, the BTCUSD pair could surge towards the $10,500 level if price breaks above neckline resistance, around the $9,900 level.
The BTCUSD pair is only bullish while trading above the $9,100 level, key resistance is found at the $9,900 and the $10,700 levels.
If the BTCUSD pair trades below the $9,100, sellers may test the $8,700 and $8,100 support levels.