BTCUSD Still Bullish

Technical analysis

The BTCUSD pair is consolidating around the mid-line of the daily Bollinger Band. A break above the mid-line exploses further gains towards the upper daily Bollinger Band, around the $35,250 level.

The daily time frame also shows that large amounts of bullish MACD price divergence is present, and extends up until the $36,000 resistance level.

What the possible outcomes are

In our most likely scenario, the BTCUSD pair breaks above the mid-line of the daily Bollinger Band indicator and advances towards at least the $35,250 level.

Alternatively, the BTCUSD pair may fail to move above the mid-line of the daily Bollinger Band and reverse back towards the lower Bollinger Band.

Key levels

Support $31,000 $30,100

Resistance $32,850 $35,250