HomeContributorsTechnical AnalysisBTCUSD Bearish Under $6,500

BTCUSD Bearish Under $6,500

Bitcoin is coming under increasing downside pressure on Monday after the number one cryptocurrency broke below the $6,500 level. Now that support has been broken the BTCUSD pair is at risk of dropping towards the $5,500 technical area over the short-term. Traders should also note that the $6,000 level is likely to act as a major pivot point for the BTCUSD pair this week.

The BTCUSD pair is only bullish while trading above the $6,500 level, key resistance is found at the $7,000 and the $7,500 levels.

If the BTCUSD pair trades below the $6,500, sellers may test the $5,800 and $5,500 support levels.

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