Bitcoin remains under heavy downside selling pressure as the recent dip-buying demand for the pioneer cryptocurrency has evaporated. Technical analysis highlights the $30,000 support level as a potential buy spot for traders who are bullish towards the BTCUSD pair. To the downside, sustained daily losses below the $30,000 level would be extremely bearish in the short-term.
The BTCUSD pair is only bullish while trading above the $36,000 level, key resistance is found at the $40,000 and the $42,000 levels.
If the BTCUSD pair trades below the $36,000 level, sellers may test the $30,000 and $29,000 levels.
