BTCUSD bearish under $8,500
Bitcoin has opened the new trading week under pressure as the cryptocurrency struggles to attract buyers from the $8,000 support level. The BTCUSD pair is still trading in a narrow range, as it prepares for upcoming fundamental news from the US Securities and Exchange Commission over a Bitcoin ETF. Overall, the next big directional move should come from a break of the $7,700 to $8,500 price range.
The BTCUSD pair is only bullish while trading above the $8,500 level, key resistance is located at the $9,000 and $9,300 levels.
If the BTCUSD pair trades under the $8,500 level, sellers may test towards the $7,700 and $7,100 support levels.