BTCUSD $10,500 failure
Bitcoin is coming under downside selling pressure after bulls repeatedly failed to push the number one cryptocurrency above the $10,500 level. A bearish head and shoulders pattern is developing over the lower time frames, with the neckline of the pattern located around the $9,800 level. Moves back towards the $10,200 level may be seen as a selling opportunity this week.
The BTCUSD pair is only bullish while trading above the $10,200 level, key resistance is found at the $10,500 and the $11,000 levels.
If the BTCUSD pair trades below the $10,200, sellers may test the $9,800 and $9,200 support levels.