BTCUSD starting to pullback
Bitcoin has started to pullback after buyers failed to move the number one cryptocurrency by market capitalization above the $7,800 resistance level yesterday. It is possible that the BTCUSD pair may have to move lower in order to attract fresh buying interest at a more attractive price. Overall, the BTCUSD pair is still expected to recover and attack towards the $8,000 resistance level this week.
The BTCUSD pair is only bullish while trading above the $7,460 level, key resistance is found at the $8,000 and the $8,800 levels.
If the BTCUSD pair trades below the $7,460, sellers may test the $7,200 and $7,000 support levels.