BTCUSD Bulls in control
Bitcoin is starting to gain upside momentum once again, following a false technical breakout beneath a large triangle pattern. Positive risk sentiment and fundamentals continue to drive the BTCUSD higher, with the cryptocurrency being accumulated on any meaningful price pullbacks. Technical analysis highlights the $11,600 area as a potential medium-term bullish target.
The BTCUSD pair is only bullish while trading above the $10,630 level, key resistance is found at the $11,100 and the $11,600 levels.
If the BTCUSD pair trades below the $10,630 level, sellers may test the $10,300 and $9,800 levels.