BTCUSD $8,500 breakout
Bitcoin is trapped between the $8,700 to $9,000 price range on Wednesday, as the cryptocurrency remains under pressure over the short-term. A sustained breakout below the $8,700 level could cause the BTCUSD pair to fall towards the $8,500 support level. Traders should note that the $8,100 level currently offers the strongest form of weekly support for the BTCUSD pair.
The BTCUSD pair is only bullish while trading above the $9,100 level, key resistance is found at the $9,300 and the $9,900 levels.
If the BTCUSD pair trades below the $9,100, sellers may test the $8,500 and $8,100 support levels.