BTCUSD Under pressure

Bitcoin has fallen to its lowest level of the month so far as the entire cryptocurrency market comes under heavy downside pressure. A major short-term range break from the $18,400 to $19,400 area has caused Bitcoin to fall back towards the $18,000 support region. According to the size of the range break, the BTCUSD pair could fall towards the $17,400 support area.

• The BTCUSD pair is only bullish while trading above the $18,400 level, key resistance is found at the $19,000 and the $19,500 levels.

• If the BTCUSD pair trades below the $18,400 level, sellers may test the $17,800 and $17,400 levels.