BTCUSD $33,000 Pivot

Bitcoin is struggling to make upside traction as the broader cryptocurrency market still remains entrenched in a bear market. The four-hour time frame shows that the $33,000 level is the neckline of a bearish head and shoulders pattern and is acting as a pivot point. Sustained weakness below the $33,000 level could cause the BTCUSD pair to fall towards the $31,000 level.

The BTCUSD pair is only bullish while trading above the $33,000 level, key resistance is found at the $34,400 and the $35,900 levels.

If the BTCUSD pair trades below the $33,000 level, sellers may test the $32,100 and $31,000 levels.

These trading ideas can only be applied to the intraday trading strategy and remain valid for 24 hours after publication. They are based on historical data and analysis and do not guarantee constant profit. You remain solely responsible for your decisions and the financial risks you take. In case your pending order is not executed within a single trading day, please, do not forget to cancel it.

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