BTCUSD awaiting range break
Bitcoin continues its period of price consolidation, as the number cryptocurrency trades within the $8,800 to $9,500 price range. The BTCUSD pair could quickly rally towards the $10,100 level if the $9,500 resistance level is broken this week. To the downside, a breach of the $8,800 support level exposes the BTCUSD pair to further heavy losses towards the $8,300 support area.
The BTCUSD pair is only bullish while trading above the $9,500 level, key resistance is found at the $9,800 and the $10,100 levels.
If the BTCUSD pair trades below the $9,500 level, sellers may test the $9,500 and $8,800 and $8,300 support levels.