Bitcoin remains under downside pressure below the $9,000 level, after the cryptocurrency suffered its worst one-day sell-off 2020 so far. BTCUSD bulls need to close the daily candle back above the pairs 200-day moving average to avoid further technical selling. The $8,000 level still remains a valid bearish target if the decline in the number one cryptocurrency continues.
The BTCUSD pair is only bullish while trading above the $9,500 level, key resistance is found at the $9,800 and the $10,300 levels.
If the BTCUSD pair trades below the $9,500, sellers may test the $8,500 and $8,000 support levels.