BTCUSD Watching Bollinger Bands
Bitcoin remains under pressure on Friday, following bearish news surrounding a potential Bitcoin ETF and Facebook failing to add the top crypto to its holdings. The Bollinger Band indicator is highlighting the next major move could come once the $53,000 to $55,700 price range is broken. Sustained losses below the $53,000 level could easily cause further downside towards the $51,300 area.
The BTCUSD pair is only bullish while trading above the $54,000 level, key resistance is found at the $55,700 and the $57,000 levels.
If the BTCUSD pair trades below the $54,000 level, sellers may test the $53,000 and $51,300 levels.