BTCUSD Starting to weaken
Bitcoin is starting to turn lower as the cryptocurrency market reacts to the tightly contested US election result, which currently shows no clear winner. The short-term technical show that sustained weakness below the $13,500 level could prompt a decline towards the $12,700 level. A bearish pattern is warning that the BTCUSD pair could decline significantly if the $12,700 level is broken.
The BTCUSD pair is only bullish while trading above the $13,500 level, key resistance is found at the $14,100 and the $15,000 levels.
If the BTCUSD pair trades below the $13,500 level, sellers may test the $12,700 and $11,500 levels.