BTCUSD Target hit
Bitcoin has started to recover after sellers forced a quick technical sell-off in the cryptocurrency towards the $11,200 support area yesterday. Traders that are bullish towards the BTCUSD pair may have bought the recent pullback in expectation of a coming rally towards the $13,500 level. Overall, Bitcoin is expected to recover towards the $12,000 area while bulls continue to defend the $11,100 support zone.
The BTCUSD pair is only bullish while trading above the $11,550 level, key resistance is found at the $12,100 and the $12,500 levels.
If the BTCUSD pair trades below the $11,550 level, sellers may test the $11,300 and $11,100 levels.