BTCUSD $10,550 now key
Bitcoin has fallen towards the $10,300 support area as the recent price plunge in US equity markets has caused traders to move into the risk-off trading mode. The BTCUSD pair is likely to remain under technical selling pressure while the cryptocurrency trades below the $10,550 level. A breach of the $10,300 support area may cause the next major technical test of the $10,000 level.
The BTCUSD pair is only bullish while trading above the $10,550 level, key resistance is found at the $10,700 and the $10,900 levels.
If the BTCUSD pair trades below the $10,550 level, sellers may test the $10,300 and $10,000 levels.