Bitcoin is looking very strong this morning after staging a powerful recovery, following bullish Tweets from Tesla CEO Elon Musk. The BTCUSD pair could test towards the $43,000 level if buyers are able to overcome the technically important $40,500 resistance level. Buying any price dips back towards the $38,500 support area appears to be a possible strategy for bulls intraday.
The BTCUSD pair is only bullish while trading above the $38,500 level, key resistance is found at the $40,500 and the $43,000 levels. If the BTCUSD pair trades below the $38,500 level, sellers may test the $37,500 and $36,500 levels.