Bitcoin is back above $36,000 and has recovered all of its weekly losses after El Salvador became the first country to adopt Bitcoin as legal tender. A bullish breakout from a triangle pattern is underway, following the recent strong upside recovery. Now that a bullish breakout from the triangle pattern has occurred it is likely that the BTCUSD pair could rally towards the $40,000 resistance area.
The BTCUSD pair is only bullish while trading above the $36,000 level, key resistance is found at the $37,600 and the $40,000 levels.
If the BTCUSD pair trades below the $36,000 level, sellers may test the $35,500 and $34,800 levels.
