BTCUSD $41,000 Rejection

The BTCUSD has started the new trading week under downside pressure, following a strong technical rejection from the $ 41,000 level. Technical analysis highlights that an important technical breakout from a triangle pattern remains in place while Bitcoin trades above the $ 37,300 level. The overall size of the triangle pattern implies that the cryptocurrency could soon hit a new all-time high.

The BTCUSD pair is only bullish while trading above the $ 37,300 level, key resistance is found at the $ 40,000 and the $ 41,000 levels.

If the BTCUSD pair trades below the $ 37,300 level, sellers may test the $ 36,500 and $ 35,000 levels.