Bitcoin appears to be preparing for a large directional move as the number one cryptocurrency trades within an increasingly narrow price range. Medium-term bulls may be preparing to attack towards the $10,500 resistance level again this week. Technical analysis highlights that a breakout under the $9,200 level could see the BTCUSD pair testing towards the $8,700 support area.
The BTCUSD pair is only bullish while trading above the $9,200 level, key resistance is found at the $10,100 and the $10,500 levels.
If the BTCUSD pair trades below the $9,200 level, sellers may test the $9,000 and $8,700 support levels.
