Bitcoin is still slightly bullish in the short-term, despite the fact that a strong reversal took place from above the $38,000 level on Thursday. Sustained gains above the $36,300 level would suggest that the BTCUSD pair is headed back towards the $38,000 level intraday. If buyers are able to close the daily candle above the $40,000 level it would provide a strong buy signal.
The BTCUSD pair is only bullish while trading above the $36,300 level, key resistance is found at the $38,000 and the $40,000 levels.
If the BTCUSD pair trades below the $36,300 level, sellers may test the $35,500 and $34,800 levels.
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