Bitcoin has staged a solid recovery this morning after finding interim technical support from just above the $5,800 support area. Going forward, the December 2019 trading low is offering major upcoming technical resistance for the BTCUSD pair, around the $6,430 level. Failure to overcome this key technical area may result in a strong sell-off in the BTCUSD pair towards the $5,500 level.
The BTCUSD pair is only bullish while trading above the $6,430 level, key resistance is found at the $6,800 and the $7,000 levels.
If the BTCUSD pair trades below the $6,430, sellers may test the $5,800 and $5,500 support levels.
