Bitcoin continue to trade to the downside on Thursday, with buyers still trying to prevent further heavy losses below the key $6,200 support level. The BTCUSD pair has come under constant pressure since being swiftly rejected from the $6,740 level. Sellers will now look to target the $5,700 region if they can hold price below the $6,200 level, while bulls will try to once again defend the $6,200 level.
The BTCUSD pair is strongly bearish while trading below the $6,200 level, further losses towards the $6,058 and $5,700 levels seems possible.
If the BTCUSD pair holds above the $6,200 level, buyers may move price back towards the $6,500 and $6,740 resistance levels.