Bitcoin has recovered sharply higher in early Monday trade after the number one cryptocurrency found strong technical support from just below the $6,500 level. If buyers can breach the current yearly trading high the BTCUSD pair could eventually test towards the $10,000 resistance level. The daily time frame is showing that key support from the Ichimoku indicator is located at the $7,100 level.
The BTCUSD pair is strongly bullish while trading above the $8,000 level, key resistance is found at the $8,500 and $10,000 levels. If the BTCUSD pair trades under the $8,000 level, sellers may test towards the $7,100 and $6,500 support levels.