Bitcoin is back under downside selling pressure, following a strong technical rejection from the $7,660 level earlier this week. A bearish triangle breakout is now underway, with the psychological $7,000 support level coming into focus once again. Overall, BTCUSD traders have few reasons to be bullish towards the cryptocurrency while price trades under the $7,400 level.
The BTCUSD pair is only bullish while trading above the $7,400 level, key resistance is located at the $7,700 and $8,200 levels.
If the BTCUSD pair trades under the $7,400 level, sellers may test towards the $7,000 and $6,800 support levels.
