BTCUSD $22,600 support
Bitcoin is attempting to recover above the $23,000 level after the number one cryptocurrency dropped towards the $22,600 support area earlier today. Technical analysis shows that a bearish head and shoulders pattern will be activated if price falls beneath the $22,400 level. To the upside, a breakout above the $24,300 level could cause the BTCUSD pair to surge towards the $26,000 area.
The BTCUSD pair is only bullish while trading above the $23,000 level, key resistance is found at the $24,300 and the $26,000 levels.
If the BTCUSD pair trades below the $23,000 level, sellers may test the $22,400 and $20,500 levels.