Bitcoin remains under near-term downside pressure after reversing sharply from just under the $38,000 resistance level over the weekend. The one-hour time frame shows that a bearish breakout under a triangle pattern will take place if the BTCUSD pair trades under the $36,000 level. Failure to hold the price under the triangle could result in recovery towards the $37,200 level intraday.
The BTCUSD pair is only bullish while trading above the $36,000 level, key resistance is found at the $37,200 and the $38,000 levels.
If the BTCUSD pair trades below the $36,000 level, sellers may test the $35,200 and $34,400 levels.
