Bitcoin is under slight downside pressure on Tuesday after bulls failed to break the $19,600 level, and carry the weekends upside momentum into early-week trading. Technical analysis shows that a correction back towards the $18,100 level remains possible if the $19,600 level is not broken. A large ascending triangle pattern also appears to be forming across the lower time frames.
The BTCUSD pair is only bullish while trading above the $18,800 level, key resistance is found at the $19,600 and the $19,000 levels.
If the BTCUSD pair trades below the $18,800 level, sellers may test the $18,400 and $18,100 levels.
