BTCUSD further bullish above $3,700

BTCUSD further bullish above $3,700

Bitcoin / Dollar BITFINEX:BTCUSD


Bitcoin has a bullish short-term bias on Monday after BTCUSD buyers forced price towards the $3,700 resistance, after weeks of price consolidating inside a descending channel . The $3,460 level is now former key resistance turned support, while moves above the $3,700 may provoke a test of the $4,000 level. The Moving Average Convergence Divergence indicator on the four-hour time frame is also starting to trend higher.

The BTCUSD pair is bullish while trading above the $3,460 level, key technical resistance is found at the $3,700 and $4,000 levels.

If the BTCUSD pair trades below the $3,460 level, key support is found at the $3,280 and $3,120 levels.