Bitcoin is starting to trade in an extremely large price range, following the early-week rejection from the $28,000 resistance zone. The BTCUSD pair has traded between the $24,000 and $28,000 over the last few days, making it the new short-term range. Technical analysis shows that the BTCUSD pair needs to hold above the $26,300 level this week to stop price dropping towards the $24,000 area.
The BTCUSD pair is only bullish while trading above the $26,300 level, key resistance is found at the $28,000 and the $28,300 levels.
If the BTCUSD pair trades below the $26,300 level, sellers may test the $24,300 and $24,000 levels.
