BTCUSD $5,500 possible
Bitcoin remains under pressure after the number one cryptocurrency suffered another upside rejection from the $6,500 level. If the BTCUSD pair falls below the $6,000 level it is entirely possible that sellers could start to target the $5,500 support area. Overall, traders should expect more short-term weakness in the BTCUSD pair while price trades below the $6,500 level.
The BTCUSD pair is only bullish while trading above the $6,500 level, key resistance is found at the $6,700 and the $7,000 levels.
If the BTCUSD pair trades below the $6,430, sellers may test the $5,800 and $5,500 support levels.