BTCUSD back under pressure
Bitcoin is under pressure at the start of the trading week, following a heavy bearish breakout below the $9,000 support level. Going forward, a daily price close below the $8,500 level could cause the BTCUSD pair to weaken towards the $7,700 technical area. Bearish stochastic price divergence on the four-hour time frame is also warning of a stronger decline towards the $7,000 level.
The BTCUSD pair is only bullish while trading above the $9,000 level, key resistance is found at the $9,300 and the $9,900 levels.
If the BTCUSD pair trades below the $9,000, sellers may test the $8,500 and $8,100 support levels.