BTCUSD Range break required
Bitcoin has had another volatile trading weekend, with the top cryptocurrency trading in an extremely large price range of close to $3,000. The next major directional move is likely to take place once the $54,000 to $57,000 price range is breached with conviction. Once a sustained range breakout does finally take place then a one-way directional move of close to $3,000 is likely to happen.
The BTCUSD pair is only bullish while trading above the $55,000 level, key resistance is found at the $57,000 and the $60,000 levels.
If the BTCUSD pair trades below the $55,000 level, sellers may test the $54,000 and $51,000 levels.