BTCUSD under downside pressure
Bitcoin has started the new trading week under selling pressure, with the BTCUSD pair now probing towards the $3,500 support level. The BTCUSD pair has broken below a symmetrical triangle pattern, following days of price consolidation. A clear break below the $3,485 level will likely encourage technical sellers to test towards the important $3,300 support level.
The BTCUSD pair is strongly bearish while trading below the $3,485 level, key technical support remains at the $3,300 and $3,100 levels.
If the BTCUSD pair moves back above the $3,660 level, key technical resistance is found at the $4,000 and $4,220 levels.