BTCUSD must bounce
Bitcoin has come under major downside pressure after finally breaking under the well-defined descending triangle pattern on the higher time frames. The $8,300 level is must bounce level for the BTCUSD pair or the cryptocurrency could slide towards the $7,500 level. Overall, the BTCUSD pair is a sell while trading under the triangle, bulls desperately need to rapidly move price back inside the triangle.
The BTCUSD pair is only bullish while trading above the $9,100 level, key resistance is located at the $9,600 and $10,300 levels.
If the BTCUSD pair trades under the $9,100 level, sellers may test towards the $7,500 and $6,800 support levels.