Bitcoin is starting to lose bearish momentum after short-term sellers failed to keep price below the symmetrical triangle pattern on the four-hour and daily time frames. Sellers need to break the $6,160 level to accelerate downside pressures, while buyers need to move price above the upper trendline, at $6,480. Overall, caution is advised until a clear technical break of the $6,030 to $6,730 price range has occurred.
The BTCUSD pair is only intraday bearish while trading below the $6,160 level, key support remains at the $6,030 and $5,800 levels.
If the BTCUSD pair trades above the $6,480 level, buyers are likely to test towards the $6,550 and $6,730 resistance levels.
The BTCUSD pair is only intraday bearish while trading below the $6,160 level, key support remains at the $6,030 and $5,800 levels.
If the BTCUSD pair trades above the $6,480 level, buyers are likely to test towards the $6,550 and $6,730 resistance levels.
