BTCUSD Big move coming
Bitcoin appears to be preparing for its next major move as buyers and sellers continue to do battle between the $23,000 to $24,000 levels. Technical analysis shows that a bearish head and shoulders has formed, and is valid while BTCUSD trades below the $24,300 level. Sellers need to move the price below the $22,400 level to activate the head and shoulders pattern, which holds a downside target of $20,500.
The BTCUSD pair is only bullish while trading above the $23,000 level, key resistance is found at the $24,300 and the $26,000 levels.
If the BTCUSD pair trades below the $23,000 level, sellers may test the $22,400 and $20,500 levels.