BTCUSD Hits Support

Bitcoin came under pressure over the weekend, following a quick price drop in the top cryptocurrency towards the $8,800 support zone. Technical analysis shows that the BTCUSD pair will remain under pressure while trading below the $9,150 technical area. If bulls can break through the $9,400 resistance area then the much-awaited rally back towards the $10,000 level may commence.

The BTCUSD pair is only bullish while trading above the $9,400 level, key resistance is found at the $9,600 and the $10,000 levels.

If the BTCUSD pair trades below the $9,400 level, sellers may test the $8,800 and $8,200 support levels.

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Octa (formerly OctaFX) is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 180 countries with more than 40 million trading accounts.

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