Bitcoin has pulled back sharply from the $37,000 resistance level after staging a $5,000 rally on the cryptocurrency market over the past few trading days. Technical analysis shows that a bullish breakout from a large triangle pattern remains in play while the price holds above $34,400. A breakout above the $37,000 level could propel the BTCUSD pair towards the $38,800 resistance barrier.
The BTCUSD pair is only bullish while trading above the $34,400 level, key resistance is found at the $37,000 and the $38,500 levels.
If the BTCUSD pair trades below the $34,400 level, sellers may test the $33,000 and $32,000 levels.
