Bitcoin is showing encouraging signs of recovery in the short-term after the number one cryptocurrency found strong support from the $33,200 level over the weekend. Lower time frame analysis shows that a bullish triple-bottom price pattern may be forming. Trendline analysis also shows that a bullish breakout towards $43,000 is likely to take place if the $40,000 resistance level is broken.
The BTCUSD pair is only bullish while trading above the $37,000 level, key resistance is found at the $40,000 and the $43,000 levels.
If the BTCUSD pair trades below the $37,000 level, sellers may test the $34,000 and $33,000 levels.
