Bitcoin is once again trading below the $4,000 support level, as buyers search for technical confirmation that a long-term trading-low has been reached, at $3,507. An inverted head and shoulders pattern is also forming, with a bullish target of $5,500. If the $3,507 level is broken, invalidating the bullish pattern, traders should expect the BTCUSD pair to decline towards the $3,000 support level.
The BTCUSD pair is strongly bearish while trading below the $4,000 level, key support is located at the $3,507 and $3,000 levels.
If the BTCUSD pair moves above the $4,000 level, key resistance is found at the $4,500 and $4,700 levels.
The BTCUSD pair is strongly bearish while trading below the $4,000 level, key support is located at the $3,507 and $3,000 levels.
If the BTCUSD pair moves above the $4,000 level, key resistance is found at the $4,500 and $4,700 levels.
