Bitcoin has staged another bearish pullback as the top digital asset continues to fall out of favor with cryptocurrency traders. A bullish inverted head and shoulders pattern has formed, with the neckline of the bullish price pattern found around the $56,800 level. It is possible that the latest pullback in the BTCUSD is because the pattern is firming a final right-hand shoulder
The BTCUSD pair is only bullish while trading above the $56,800 level, key resistance is found at the $57,800 and the $58,820 levels.
If the BTCUSD pair trades below the $57,400 level, sellers may test the $53,800 and $51,500 levels.
