Bitcoin has opened the new trading week strongly and is currently posting intraday gains after briefly dipping below the $4,000 support level. A sizeable upside correction remains possible as the BTCUSD pair has reached the bearish head and shoulders pattern downside objective. The MACD and RSI indicators on the four-hour time frames are also starting to correct higher.
The BTCUSD pair is strongly bearish while trading below the $4,500 level, key support is located at the $4,000 and $3,780 levels.
If the BTCUSD pair moves above the $4,500 level, key resistance is found at the $4,700 and $5,000 levels.
The BTCUSD pair is strongly bearish while trading below the $4,500 level, key support is located at the $4,000 and $3,780 levels.
If the BTCUSD pair moves above the $4,500 level, key resistance is found at the $4,700 and $5,000 levels.
