BTCUSD is currently range bound between 3128 and 4240. The price is below the 14-day MA. Additionally the RSI is in the negative territory. All together the graph tells us that the selling pressure remains and a test of 3128 is probable. If we see bulls get the upper hand and take the price above the 14-day MA, we can talk about 4240 resistance, otherwise new lows are on the horizon.