BTCUSD testing below $7,000

Bitcoin has fallen below the $7,000 level during the European trading session as buyers repeatedly struggled to move price above the $7,300 resistance level. The recent pullback may help to attract buying demand for traders who want to enter the BTCUSD long trade at a better price. At this stage, a sustained loss of the $6,550 level would be extremely bearish for the BTCUSD pair.

• The BTCUSD pair is only bullish while trading above the $7,000 level, key resistance is found at the $7,300 and the $7,480 levels.

• If the BTCUSD pair trades below the $7,000, sellers may test the $6,800 and $6,550 support levels.