BTCUSD $36,000 Target

Bitcoin has staged a major upside rally over the weekend after finally breaking past the psychological $30,000 resistance barrier. Technical analysis shows that a bullish price pattern is pointing to the $36,000 level as a possible final upside target for the BTCUSD pair. To the downside, only a major bearish catalyst can derail the pioneer crypto due to the ongoing supply shortage.

• The BTCUSD pair is only bullish while trading above the $27,800 level, key resistance is found at the $36,000 and the $37,800 levels.

• If the BTCUSD pair trades below the $27,800 level, sellers may test the $26,000 and $24,000 levels.