BTCUSD Pullback opportunity
Bitcoin has staged a major technical pullback over the weekend, with the number one cryptocurrency retracing back towards the $14,300 area. The sudden plunge in BTCUSD appeared to coincide with the announcement of Joe Biden’s Presidency. Technical analysis suggests that Bitcoin has the potential to rally towards the $19,000 to $20,000 area over the medium-term.
The BTCUSD pair is only bullish while trading above the $14,200 level, key resistance is found at the $16,000 and the $17,200 levels.
If the BTCUSD pair trades below the $14,200 level, sellers may test the $13,800 and $13,300 levels.