Bitcoin has managed to stage a strong technical bounce after dropping to a fresh monthly low, around the $17,600 level yesterday. The bull case for BTCUSD remains strong while the number one cryptocurrency trades about the $18,400 support level. Continued weakness around the $18,000 level could lead to an extended price drop towards the $17,400 to $17,000 technical area.
The BTCUSD pair is only bullish while trading above the $18,400 level, key resistance is found at the $19,000 and the $19,500 levels.
If the BTCUSD pair trades below the $18,400 level, sellers may test the $17,600 and $17,400 levels.
