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BTCUSD New Monthly High

Bitcoin has broken above last weeks trading high after buyers finally broke through the technically important $9,400 resistance level. Traders remain cautious despite the breakout as the number one cryptocurrency has so far been unable to break the psychological $10,000 level. A breakout above the $10,000 level could see the BTCUSD pair testing towards the $10,500 resistance area.

The BTCUSD pair is only bullish while trading above the $8,700 level, key resistance is found at the $10,000 and the $10,400 levels.

If the BTCUSD pair trades below the $8,700, sellers may test the $8,400 and $8,000 support levels.

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Octa (formerly OctaFX) is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 180 countries with more than 40 million trading accounts.

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