BTCUSD BACK UNDER SELLING PRESSURE
Bitcoin has started to weaken alongside the broader cryptocurrency market in early Tuesday trade, with the BTCUSD pair slipping below the $6,300 support level. The recent rally towards the $6,500 level appears to be a false break, with price moving back inside the descending triangle pattern. A clear break below the $6,030 level will likely expose the BTCUSD pair to heavy technical selling.
The BTCUSD pair is only bullish while trading above the $6,730 level, key resistance is now located at the $6,300 and $6,515 levels.
If the BTCUSD pair continues to trade under the $6,300 level, key support is found at the $6,030 and $5,800 levels.
The BTCUSD pair is only bullish while trading above the $6,730 level, key resistance is now located at the $6,300 and $6,515 levels.
If the BTCUSD pair continues to trade under the $6,300 level, key support is found at the $6,030 and $5,800 levels.
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