BTCUSD Range trade
The BTCUSD pair has had another volatile weekend after investment company Microstrategy revealed that they had deployed another $50 million in Bitcoin. The short-term technical surrounding the BTCUSD pair shows that a range break is needed. The Bollinger Band indicator shows that the next major directional move is likely to take place once the $18,500 to $19,500 range is broken.
The BTCUSD pair is only bullish while trading above the $18,500 level, key resistance is found at the $19,500 and the $20,000 levels.
If the BTCUSD pair trades below the $18,500 level, sellers may test the $17,800 and $17,500 levels.