Bitcoin is appearing increasing bullish on multiple time frames as positive tones continue to spread through the wider cryptocurrency market. Technical analysis shows that the BTCUSD pair is likely to test towards the $40,000 level if the $38,600 level is broken. To the downside, a daily price close under the $34,400 level is now required to increased bearish pressure.
The BTCUSD pair is only bullish while trading above the $34,400 level, key resistance is found at the $38,600 and the $40,000 levels.
If the BTCUSD pair trades below the $34,400 level, sellers may test the $33,000 and $32,000 levels.
