Bitcoin has rallied sharply during the European trading session, with the pioneer cryptocurrency breaking through the $6,400 level. The BTCUSD pair could test towards the $8,000 level now that the $6,400 resistance level has been breached with conviction. Overall, the BTCUSD pair could be preparing for a powerful upside rally next week back towards the $10,000 resistance level.

• The BTCUSD pair is only bullish while trading above the $6,400 level, key resistance is found at the $7,200 and the $8,000 levels.

• If the BTCUSD pair trades below the $6,400, sellers may test the $5,500 and $4,900 support levels.