Bitcoin is starting to turn lower in early Friday trading, after buyers yet again failed to overcome the $6,700 resistance level. The BTCUSD pair has slipped back towards key weekly support at $6,450, with the early-week bullish momentum seen in the pair now starting to weaken. Buyers will attempt to hold price above the $6,450 support level, while sellers will target deeper losses towards the $6,200 level.
The BTCUSD pair is only bullish while trading above the $6,450 level, further upside towards $6,700 and $7,000 remains possible.
If the BTCUSD pair holds below the $6,450 level, price may correct back towards the $6,200 and $6,058 support levels.