BTCUSD $8,200 possible

Bitcoin looks set for its worst trading week of the year so far, with the cryptocurrency increasingly bearish below the $9,200 level. The BTCUSD pair could now start to target major monthly technical support, which is located around the $8,200 level. BTCUSD medium-term sellers will likely target the $8,200 level if the $8,500 support level is broken today or over the coming days.

• The BTCUSD pair is only bullish while trading above the $9,200 level, key resistance is found at the $9,800 and the $10,300 levels.

• If the BTCUSD pair trades below the $9,200, sellers may test the $8,500 and $8,200 support levels.