BTCUSD STILL TRAPPED IN WEDGE PATTERN
Bitcoin continues to trade towards the lower end of its monthly range on Thursday, as short and medium-term sellers retain control of the number crypto. The BTCUSD pair failed to react to news that U.S. authorities are tightening cryptocurrency regulations, while many other popular cryptocurrencies such as Litecoin and Ethereum fell. Price is still expected to gravitate towards the wedge pattern bottom, around the $5,700 support level.
The BTCUSD pair is bearish while trading below the $6,400 level, key support is located at the $6,000 and $5,700 levels.
If the BTCUSD pair moves back above the $6,400 level, key resistance is then found at the $6,550 and $6,730 levels.
The BTCUSD pair is bearish while trading below the $6,400 level, key support is located at the $6,000 and $5,700 levels.
If the BTCUSD pair moves back above the $6,400 level, key resistance is then found at the $6,550 and $6,730 levels.
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