BTCUSD $18,800 key

Bitcoin is appearing increasingly bullish in the short-term horizon, as traders continue to buy into any meaningful price dips. Bitcoin performed its highest ever monthly price close, placing further emphasis on a coming rally towards the $20,700 resistance level. Traders that are bullish towards the BTCUSD pair may be awaiting a strong price pullback towards the $17,000 level this month in expectation of a rally towards $22,000.

• The BTCUSD pair is only bullish while trading above the $17,800 level, key resistance is found at the $20,000 and the $20,700 levels.

• If the BTCUSD pair trades below the $17,800 level, sellers may test the $17,400 and $17,000 levels.