Bitcoin is building on its recovery from the $53,000 support level as the largest cryptocurrency tests back towards the best levels of the month. A bullish inverted head and shoulders pattern is a warning that the BTCUSD pair could rally to the $65,000 resistance level. Sustained strength above the neckline of the pattern, around $56,800 is required to secure further technical buying interest.
The BTCUSD pair is only bullish while trading above the $56,800 level, key resistance is found at the $58,820 and the $60,000 levels.
If the BTCUSD pair trades below the $56,800 level, sellers may test the $55,000 and $53,800 levels.
