Bitcoin is at risk of further losses on the digital currency market as the BTCUSD pair declines below the psychological $8,000 level. BTCUSD buyers need to rally price above the $8,550 level to secure the number one cryptocurrencies medium-term prospects. A sustained break under the $8,000 support level could see the BTCUSD pair falling towards the $7,500 technical area.

The BTCUSD pair is only bullish while trading above the $8,550 level, key resistance is located at the $9,000 and $9,400 levels.

If the BTCUSD pair trades under the $8,550 level, sellers may test towards the $8,000 and $7,500 support levels.

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