Bitcoin is still being well-supported on pullbacks, as institutional and retail demand for the number one cryptocurrency above the $10,000 level remains strong. The BTCUSD pair is currently trapped inside a large triangle pattern between the $10,300 and $10,900 level. A $600.00 directional move is likely to take place in the short-term once a technical breakout from the triangle pattern takes place.
The BTCUSD pair is only bullish while trading above the $10,550 level, key resistance is found at the $10,700 and the $10,900 levels.
If the BTCUSD pair trades below the $10,550 level, sellers may test the $10,300 and $10,000 levels.
