Bitcoin remains vulnerable to further losses on Monday after the cryptocurrency failed to perform a strong rally away from the $7,000 level over the weekend. Going forward, a weekly close below the $6,650 level would be the next strong bearish signal. A daily price close back above the $8,000 level is now needed to confirm that a medium-term price floor has been established.
The BTCUSD pair is only bullish while trading above the $8,000 level, key resistance is located at the $8,250 and $8,550 levels.
If the BTCUSD pair trades under the $7,000 level, sellers may test towards the $6,600 and $6,000 support levels.
