BTCUSD Bears struggle
Bitcoin is still trading around its weekly opening price, as bulls and bears continue to battle for short-term control of the number one crypto. Bears are struggling to hold price below the $11,300 level, as dip-buying for BTCUSD still remains exceptionally strong. The strong correlation with the S&P 500 index is another factor weighing on Bitcoin, as the index corrects lower.
The BTCUSD pair is only bullish while trading above the $11,100 level, key resistance is found at the $11,550 and the $11,700 levels.
If the BTCUSD pair trades below the $11,100 level, sellers may test the $11,000 and $10,800 levels.