Bitcoin settled well above the $35,000 and extended its upward move.
There was a break below the 23.6% Fib retracement level of the upward wave from the $31,052 swing low to $38,423 high.
Besides, there was a break below a key bullish trend line with support near $36,500 on the hourly chart of the BTC/USD pair.
The first major resistance is near the $37,500 level, above which the price likely to revisit the $38,500 resistance zone in the near term.
It is close to the 50% Fib retracement level of the upward wave from the $31,052 swing low to $38,423 high.
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