Bitcoin is still struggling to break from its recent short-term trading range after buyers faced still resistance from the $9,400 level last week. Continued failure to move past the $9,400 level could prompt the BTCUSD pair to retrace back towards the $8,400 level. Overall, BTCUSD bulls can still rally the cryptocurrency towards the $11,000 level while price trades above the $8,900 level.
• The BTCUSD pair is only bullish while trading above the $8,900 level, key resistance is located at the $9,800 and $11,000 levels. • If the BTCUSD pair trades under the $8,900 level, sellers may test towards the $8,600 and $8,400 support levels.