Bitcoin has fallen sharply this morning as transaction costs skyrocket and the top coins medium-term technicals significantly worsen. The BTCUSD pair closed the daily candle inside the Ichimoku cloud for the first-time since October last year. If weakness persists inside the top of the Ichimoku cloud then the BTCUSD pair could weaken towards the bottom of the cloud, around $45,000.
The BTCUSD pair is only bullish while trading above the $54,600 level, key resistance is found at the $56,000 and the $57,000 levels.
If the BTCUSD pair trades below the $54,600 level, sellers may test the $51,300 and $50,000 levels.
