BTCUSD $16,170 key
Bitcoin has another important trading week ahead as the bellwether cryptocurrency looks set to post a seventh-straight week of gains. Technical analysis shows that the $16,700 level is the next major upside target above the former weekly trading high. Traders should note that the January 2018 trading high, at $16,179, is likely to act a major pivot point for the BTCUSD pair this week.
The BTCUSD pair is only bullish while trading above the $15,700 level, key resistance is found at the $16,700 and the $17,200 levels.
If the BTCUSD pair trades below the $15,700 level, sellers may test the $15,500 and $14,900 levels.