Bitcoin has a bullish short-term bias, however, the medium-term path the cryptocurrency still remains unclear at this stage. A range break from the $5,850 to $7,000 levels is currently needed before a clear medium-term directional bias will take hold. In the near-term, sellers may push price back towards the $6,000 level if they repeatedly fail to overcome the $6,700 technical barrier.
The BTCUSD pair is only bullish while trading above the $6,430 level, key resistance is found at the $6,700 and the $7,000 levels.
If the BTCUSD pair trades below the $6,430, sellers may test the $5,800 and $5,500 support levels.
