Bitcoin has started to recover higher, following a brief drop below the $13,000 support level during yesterday’s US trading session. Technical analysis shows that a potential head and shoulders pattern may be starting to build across the lower time frames. Bulls now need to break above the $13,860 level invalidate the bearish pattern and set a new 2020 yearly trading high.
The BTCUSD pair is only bullish while trading above the $12,700 level, key resistance is found at the $13,860 and the $14,200 levels.
If the BTCUSD pair trades below the $12,700 level, sellers may test the $12,200 and $11,600 levels.
