Bitcoin is under mild short-term selling pressure after the cryptocurrency suffered a heavy technical rejection from the $14,000 level. The BTCUSD pair needs to move above its weekly pivot point, around the $13,550 level, to attract fresh buying interest. The main risk for the BTCUSD pair at this stage is a protracted decline towards the $12,700, or possibly even the $12,000 level.
The BTCUSD pair is only bullish while trading above the $13,700 level, key resistance is found at the $13,900 and the $14,100 levels.
If the BTCUSD pair trades below the $13,700 level, sellers may test the $13,550 and $12,700 levels.
