BTCUSD $7,000 support key
Bitcoin is struggling to find a directional bias as the new trading month and year begins, with the BTCUSD pair confined in a tight trading range. BTCUSD bulls need to break above the $7,550 level to accelerate technical buying towards the $8,000 resistance level. A sustained loss of the $7,000 support level could see the BTCUSD pair slipping towards the $6,800 technical area.
The BTCUSD pair is only bullish while trading above the $7,000 level, key resistance is located at the $7,550 and $8,000 levels.
If the BTCUSD pair trades under the $7,000 level, sellers may test towards the $6,800 and $6,450 support levels.