Bitcoin is attempting to correct higher in early week trade after the BTCUSD pair found strong support from the $4,930 level last week. Buyers need to move the BTCUSD pair above the $5,200 level in order to regain bullish short-term trading momentum. Daily price closes above the $5,260 level should also encourage further gains, while daily price closes below the $4,930 level should be taken as bearish.
The BTCUSD pair is only bullish while trading above the $5,200 level, key intraday resistance is found at the $5,400 and $5,620 levels.
If the BTCUSD pair trades under the $5,200 level, sellers may test towards the $4,900 and $4,750 support levels.
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