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.