Bitcoin has started a huge technical correction lower after the number one cryptocurrency surged towards the $18,500 level earlier this morning. Traders that are bullish towards the BTCUSD pair may look to buy into the latest dip around the $17,250 to $17,500 area. Higher time frame analysis shows that the $19,200 level is the next major bullish target for the BTCUSD pair.
The BTCUSD pair is only bullish while trading above the $17,250 level, key resistance is found at the $18,500 and the $19,200 levels.
If the BTCUSD pair trades below the $17,250 level, sellers may test the $16,800 and $16,500 levels.
