Bitcoin is trading in a large price range between the $32,000 and $36,600 level as the number one cryptocurrency searches for a breakout. According to technical analysis a breakout from the mentioned price range could cause a $4,000 directional move in the BTCUSD pair. Market sentiment towards the BTCUSD pair is likely to turn more bearish while the price trades below the $36,600 level.
The BTCUSD pair is only bullish while trading above the $33,000 level, key resistance is found at the $36,600 and the $41,000 levels.
If the BTCUSD pair trades below the $33,000 level, sellers may test the $32,000 and $28,000 levels.
