Bitcoin has started to settle into a large trading range after the number one cryptocurrency found strong resistance from the $14,000 level last week. Selling the top-end of the BTCUSD pairs is range the preferred strategy until technical readings on the daily time frame correct from overbought. The $11,800 level is the key pivot point for the BTCUSD pair and also the neckline of a much-larger bullish pattern.
The BTCUSD pair is bullish while trading above the $11,800 level, key resistance is located at the $12,500 and $13,400 levels.
If the BTCUSD pair trades under the $11,800 level, sellers may test towards the $11,000 and $10,600 support levels.
