Bitcoin has come under heavy selling pressure alongside the broader cryptocurrency after finding strong resistance from the $7,400 level. The world’s number one cryptocurrency is likely to remain under selling pressure while trading below the $6,800 level. Sellers will try to target further losses below the $5,700 level to trigger the head and shoulders pattern, while buyers will attempt to stabilise price above the $6,800 resistance level.
The BTCUSD pair is bearish while trading below the $6,800 level, key support is located at the $6,000 and $5,700 levels.
If the BTCUSD pair moves back above the $6,550 level, price could correct back towards the $6,700 and $6,800 resistance levels.
The BTCUSD pair is bearish while trading below the $6,800 level, key support is located at the $6,000 and $5,700 levels.
If the BTCUSD pair moves back above the $6,550 level, price could correct back towards the $6,700 and $6,800 resistance levels.
