Bitcoin is still under downside pressure on Thursday as buyers struggle to secure the cryptocurrency back above the $9,000 resistance level. A bullish daily price close above the $9,250 resistance level is needed to stabilize the BTCUSD pair in the short-term. Overall, the BTCUSD pair still has a strong chance of moving back towards its current monthly trading higher if the $8,500 support level holds.
The BTCUSD pair is only bullish while trading above the $9,250 level, key resistance is located at the $9,400 and $9,800 levels.
If the BTCUSD pair trades under the $9,250 level, sellers may test towards the $8,700 and $8,500 support levels.