BTCUSD Under Pressure

Bitcoin is starting to weaken as riskier asset classes are starting to come under downside pressure during the European trading session. The BTCUSD pair is at risk of further heavy trading losses towards the $9,000 level if the $9,300 support level is broken. Going forward, bulls need to anchor price above the $9,700 resistance level to encourage short-term BTCUSD technical buying.

The BTCUSD pair is only bullish while trading above the $9,300 level, key resistance is found at the $9,700 and the $10,080 levels.

If the BTCUSD pair trades below the $9,300, sellers may test the $9,000 and $8,700 support levels.