Bitcoin is starting to trade lower alongside the broader cryptocurrency market on Wednesday, with price touching a fresh monthly low. The BTCUSD pair is starting to build downside momentum, a break below the trendline on the momentum indicator could provide the catalyst for the next round of technical selling. Overall, with the BTCUSD pair remains bearish and trading inside head and shoulders patterns across smaller and larger time frames.
The BTCUSD pair is only bullish while trading above the $6,550 level, key short-term technical resistance remains at the $6,730 and $6,838 levels.
If the BTCUSD pair continues to trade under the $6,500 level, further losses towards the $6,290 and $6,050 levels remains possible.
The BTCUSD pair is only bullish while trading above the $6,550 level, key short-term technical resistance remains at the $6,730 and $6,838 levels.
If the BTCUSD pair continues to trade under the $6,500 level, further losses towards the $6,290 and $6,050 levels remains possible.
