BTCUSD Failure to launch
Bitcoin is struggling to move above the technically important $15,500 level, as traders remain cautious due to the recent COVID-19 vaccine news. A sustained breach of the $14,800 support level could cause the BTCUSD pair to fall back towards the $14,500 area. To the upside, a breakout above the $15,500 resistance level could see the BTCUSD pair surging towards the $16,000 level.
The BTCUSD pair is only bullish while trading above the $14,800 level, key resistance is found at the $15,500 and the $16,000 levels.
If the BTCUSD pair trades below the $14,800 level, sellers may test the $14,500 and $14,300 levels.