Bitcoin selling pressure is starting to decrease in early week trade, with the BTCUSD pair consolidating inside an ascending triangle pattern. Bitcoin is fairing-well compared to other cryptocurrencies, as the broader market remains under downside pressure. Buyers will look to break the $6,200 resistance level, while sellers will attempt to breach the $6,120 support level.
The BTCUSD pair is only intraday bullish while trading above the $6,200 level, key technical resistance is found at the $6,370 and $6,550 levels.
If the BTCUSD pair trades below the $6,120 level, further losses towards the $6,030 and $5,800 levels remains possible.
The BTCUSD pair is only intraday bullish while trading above the $6,200 level, key technical resistance is found at the $6,370 and $6,550 levels.
If the BTCUSD pair trades below the $6,120 level, further losses towards the $6,030 and $5,800 levels remains possible.
