Bitcoin has started to correct lower after bulls failed to force a breakout above the technically important $11,000 resistance level. Traders that are bullish towards the BTCUSD pair may wait for a pullback towards the $10,400 to $10,200 area to attempt long positions. Technical analysis highlights that bulls need to continue closing the daily candle above the $10,550 level for further upside advancement.
The BTCUSD pair is only bullish while trading above the $10,550 level, key resistance is found at the $11,000 and the $11,400 levels.
If the BTCUSD pair trades below the $10,550 level, sellers may test the $10,400 and $10,200 levels.
