Bitcoin remains under downside pressure on the cryptocurrency market, after incurring its largest two-day loss since May this year. Bulls need to defend the $10,400 support area to avoid a major technical sell-off towards the $9,700 support zone. Daily and weekly price closes back above the $11,100 resistance level will encourage technical buyers to enter back into the bullish trend.
The BTCUSD pair is only bullish while trading above the $11,110 level, key resistance is found at the $11,550 and the $12,100 levels.
If the BTCUSD pair trades below the $11,100 level, sellers may test the $10,400 and $9,700 levels.
