Bitcoin has rebounded to the upside once again with the top coin breaking back above the $57,000 level as sellers failed to keep control. It is possible that the early week pullback in the BTCUSD pair helped form the final right-hand shoulder to complete an inverted head and shoulders pattern. Failure to hold the price above the $57,000 level could result in another price slump towards the $55,500 level.
The BTCUSD pair is only bullish while trading above the $57,000 level, key resistance is found at the $60,000 and the $61,800 levels.
If the BTCUSD pair trades below the $57,000 level, sellers may test the $55,500 and $54,000 levels.
