BTCUSD $16,000 holds
Bitcoin has rallied to its highest trading level in close to two years, with the number one cryptocurrency rallying towards the $15,900 area. Medium-term technical analysis shows that the BTCUSD pair could surge towards the $17,200 level if the $16,000 level is overcome. To the downside, traders looking to enter into the prevailing bullish trend may be awaiting a pullback towards the $14,500 area.
The BTCUSD pair is only bullish while trading above the $13,900 level, key resistance is found at the $16,000 and the $17,200 levels.
If the BTCUSD pair trades below the $13,900 level, sellers may test the $13,500 and $13,300 levels.