BTCUSD turning bearish
Bitcoin is starting to turn bearish as risk-off trading sentiment in broader financial markets is causing the cryptocurrency market to turn lower. The BTCUSD pair currently has a strong intraday bearish bias while price trades below the $9,200 resistance level. If BTCUSD sellers break through the $9,000 support level then a decline towards the $8,700 technical area could take place.
The BTCUSD pair is only bullish while trading above the $9,400 level, key resistance is found at the $9,600 and the $9,800 levels.
If the BTCUSD pair trades below the $9,400 level, sellers may test the $9,000 and $8,700 support levels.