BTCUSD reversal pattern
Bitcoin is attempting to recover higher on Friday, following yesterday’s heavy technical sell-off below the $9,000 support level. Technical analysis shows that a bullish reversal pattern with around $400.00 of upside potential is starting to form across the lower time frames. Overall, the BTCUSD pair could rally towards the $9,800 resistance level if bulls can move price above the $9,400 level.
The BTCUSD pair is only bullish while trading above the $9,400 level, key resistance is found at the $9,800 and the $10,000 levels.
If the BTCUSD pair trades below the $9,400 level, sellers may test the $9,000 and $8,700 support levels.