Bitcoin is starting to look ready to rally once again after bulls were able to defend key technical support, around the $ 36,000 area. The BTCUSD pair is currently probing towards the top of a triangle pattern and looks set to rally towards the $ 40,000 resistance level. Technical analysis highlights the $ 37,400 level as the key battleground for BTCUSD bulls and bears on an intraday basis.
The BTCUSD pair is only bullish while trading above the $ 36,000 level, key resistance is found at the $ 38,600 and the $ 40,000 levels.
If the BTCUSD pair trades below the $ 36,000 level, sellers may test the $ 35,600 and $ 35,000 levels.