BTCUSD breaking out
Bitcoin is starting to build momentum to the upside after bulls broke through an important triangle pattern on the lower time frame. Technical analysis shows that the BTCUSD pair could rally towards the $9,800 level if the $9,475 resistance level is overcome. To the downside, a daily price close back under the $9,200 support level would confirm a false upside breakout for the BTCUSD pair.
The BTCUSD pair is only bullish while trading above the $9,200 level, key resistance is found at the $9,475 and the $9,800 levels.
If the BTCUSD pair trades below the $9,200 level, sellers may test the $9,000 and $8,800 levels.