Bitcoin is gaining upside momentum as the number cryptocurrency repeatedly tests towards the $16,000 resistance level. Lower time frame analysis shows that the BTCUSD pair has successfully performed a breakout from a descending broadening wedge pattern. According to the overall size of the bullish patter, the BTCUSD pair could start to rally towards the $17,000 area.
The BTCUSD pair is only bullish while trading above the $15,500 level, key resistance is found at the $16,000 and the $16,400 levels.
If the BTCUSD pair trades below the $15,500 level, sellers may test the $15,300 and $14,900 levels.
