BTCUSD $41,000 rejection
The BTCUSD has started the new trading week under downside pressure, following a strong technical rejection from the $41,000 level. Technical analysis highlights that an important technical breakout from a triangle pattern remains in place while Bitcoin trades above the $37,300 level. The overall size of the triangle pattern implies that the cryptocurrency could soon hit a new all-time high.
The BTCUSD pair is only bullish while trading above the $37,300 level, key resistance is found at the $40,000 and the $41,000 levels.
If the BTCUSD pair trades below the $37,300 level, sellers may test the $36,500 and $35,000 levels.