BTCUSD is holding onto its strong weekly gains due to positive risk sentiment and the bullish fundamental news surrounding Square Inc buying $50 million Bitcoins. The intraday technical show the next major breakout will likely take place once the $10,940 resistance level is broken. Medium-term analysis highlights the $11,400 and $11,700 level as potential upside targets.
The BTCUSD pair is only bullish while trading above the $10,630 level, key resistance is found at the $11,100 and the $11,400 levels.
If the BTCUSD pair trades below the $10,630 level, sellers may test the $10,550 and $10,300 levels.
