BTCUSD recovery remains weak
Bitcoin remains under downside pressure on Monday, following another failed attempt to surpass the important $4,200 resistance level. The BTCUSD pair has found short-term support just above the $3,550 level, although the price is still creating bearish lower highs. A sustained move below the $3,550 level is likely to trigger heavy technical selling in the BTCUSD pair towards the $3,300 support level.
The BTCUSD pair is bearish while trading below the $4,200 level, key support is now found at the $3,550 and $3,300 levels.
If the BTCUSD pair trades above the $4,200 level, buyers may test towards the $4,400 and $5,000 resistance levels.