BTCUSD Major move expected
Bitcoin is starting to consolidate around the $13,500 level, as the cryptocurrency attempts to recover after recent bearish regulatory news. The BTCUSD pair is set for a major directional move over the incoming US election result, with bears needing to break the $12,700 level to increase technical selling. If bulls can break the $14,100 level the technical show that BTCUSD could surge dramatically higher.
The BTCUSD pair is only bullish while trading above the $12,700 level, key resistance is found at the $14,100 and the $15,000 levels.
If the BTCUSD pair trades below the $12,700 level, sellers may test the $11,550 and $11,000 levels.