BTCUSD $10,630 Support

Bitcoin has rallied to a two-week trading high, with the number one cryptocurrency briefly moving above the $10,800 resistance level. Lower time frame analysis shows that a bullish inverted head and shoulders pattern has been activated, following the recent rally above the $10,630 level. Any technical pullbacks are expected to find strong dip-buying interest from the $10,400 and $10,200 levels.

The BTCUSD pair is only bullish while trading above the $10,400 level, key resistance is found at the $10,800 and the $11,100 levels.

If the BTCUSD pair trades below the $10,400 level, sellers may test the $10,200 and $10,000 levels.

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.

Featured Analysis

Learn Forex Trading