Bitcoin has reversed back towards the key weekly support, following another major technical rejection above the $9,000 level. BTCUSD short-term sellers may target the $8,000 level if they can break the $8,400 support level with conviction today. Overall, BTCUSD bulls must overcome the $9,200 level to encourage technical buying towards the current monthly trading high.
The BTCUSD pair is only bullish while trading above the $8,700 level, key resistance is found at the $9,200 and the $9,480 levels.
If the BTCUSD pair trades below the $8,700, sellers may test the $8,400 and $7,800 support levels.
