Bitcoin has advanced towards the $11,600 level, as the recovery from the $11,100 level continues to gain upward momentum. Technical analysis shows that the BTCUSD pair will stage its next bullish breakout towards the $11,850 area if the $11,680 resistance area is overcome. Traders that are waiting for a retrace to enter in the bullish trend may look to enter around the $11,300 to $11,200 area.
The BTCUSD pair is only bullish while trading above the $11,500 level, key resistance is found at the $11,850 and the $12,000 levels.
If the BTCUSD pair trades below the $11,500 level, sellers may test the $11,300 and $10,200 levels.
