BTCUSD Triangle Tightens

Bitcoin looks increasingly uncertain in the near term, as the top crypto struggles for direction after the weekend's strong sell-off towards $51,300. Lower time frame analysis shows that the BTCUSD pair is trapped inside a triangle pattern between the $54,800 and $57,000 levels. It is likely that a directional move of $3,000 takes hold once the BTCUSD pair breaks from the triangle pattern.

The BTCUSD pair is only bullish while trading above the $55,800 level, key resistance is found at the $57,000 and the $59,000 levels. If the BTCUSD pair trades below the $55,800 level, sellers may test the $54,800 and $53,300 levels.

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