Bitcoin has moved to a new monthly trading high over the weekend, however, bulls were unable to break the all-time high, around the $61,800 level. A bullish inverted head and shoulders pattern has been activated, and is in play while the price trades above the $60,000 level. According to the overall size of the pattern the BTCUSD pair could trade towards $70,000.
The BTCUSD pair is only bullish while trading above the $58,300 lel, key resistance is found at the $60,000 and the $61,800 levels.
If the BTCUSD pair trades below the $58,300 level, sellers may test the $57,000 and $55,000 levels.
