Bitcoin is trading in a tight price range as the new trading week begins, as the number one cryptocurrency prepares for its next major directional move. BTCUSD bulls need to break the $12,100 resistance level to encourage further gains towards the $12,400 level. To the downside, sustained weakness below the $11,300 level could trigger technical selling towards the $10,500 area.
The BTCUSD pair is only bullish while trading above the $11,300 level, key resistance is found at the $12,100 and the $12,400 levels.
If the BTCUSD pair trades below the $11,300 level, sellers may test the $11,000 and $10,500 levels.
