BTCUSD needs to bounce
Bitcoin is starting to hold below the $6,900 support level, following Monday’s powerful reversal from the $7,200 level. BTCUSD bulls need to move price back above the $7,000 resistance level to encourage traders to start to buy the cryptocurrency again. If sellers gain traction below the $6,770 level the BTCUSD pair could fall back towards the $6,450 support area.
The BTCUSD pair is only bullish while trading above the $7,000 level, key resistance is found at the $7,200 and the $7,460 levels.
If the BTCUSD pair trades below the $7,000, sellers may test the $6,770 and $6,450 support levels.