BTCUSD recovery possible
Bitcoin has remained under pressure over the weekend, following last weeks major reversal from the $12,000 resistance level. Technical analysis shows that bulls may target the $11,100 to $11,300 area if they can force recovery above the $10,550 level. To the downside, daily price closes under the $10,100 level should encourage sellers to test the $9,600 support zone.
The BTCUSD pair is only bullish while trading above the $10,550 level, key resistance is found at the $11,100 and the $11,300 levels.
If the BTCUSD pair trades below the $10,550 level, sellers may test the $10,100 and $9,600 levels.