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BTCUSD Correction Underway

Bitcoin is under downside pressure after bulls failed to hold the cryptocurrency above the technically important $11,100 level over the weekend. The $10,400 and $10,200 levels are seen as potential downside targets before a wider recovery in the BTCUSD pair takes place. If sellers close the daily candle below the $10,080 level then a major technical sell-off towards the $9,000 level may take place.

The BTCUSD pair is only bullish while trading above the $10,800 level, key resistance is found at the $11,200 and the $11,400 levels.

If the BTCUSD pair trades below the $10,800 level, sellers may test the $10,400 and $10,200 levels.

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