Bitcoin has fallen to a fresh weekly trading low, following another day of heavy technical selling in the S&P 500 and other US equity markets. Technical selling was also a factor in the recent decline, following a breakout below a symmetrical triangle pattern. BTCUSD bulls now need to defend the $10,200 level to encourage a rally back towards the $10,500 resistance area.
The BTCUSD pair is only bullish while trading above the $10,500 level, key resistance is found at the $11,100 and the $11,400 levels.
If the BTCUSD pair trades below the $10,500 level, sellers may test the $10,200 and $9,600 levels.
