Bitcoin is trading towards the worst levels of the week in early Thursday trade as BTCUSD bears attempt to attack towards downside support once again. The four-hour time frame is showing that an inverted head and shoulders pattern is building. The bullish pattern has an upside target that would take the BTCUSD pair above the psychological $10,000 resistance level.
The BTCUSD pair is bullish while trading above the $8,000 level, key resistance is found at the $8,500 and $10,000 levels.
If the BTCUSD pair trades under the $8,000 level, sellers may test towards the $7,400 and $7,100 support levels.