Bitcoin is on course for further losses as the number one cryptocurrency struggles to advance above the $7,200 resistance area. A breakout under the $7,070 level should place heavy technical selling pressure on the BTCUSD pair over the short-term. Buyers need to maintain price above the $7,400 resistance level in order to attract BTCUSD bulls back into the market.
The BTCUSD pair is only bullish while trading above the $7,400 level, key resistance is located at the $7,700 and $8,200 levels.
If the BTCUSD pair trades under the $7,400 level, sellers may test towards the $7,070 and $6,800 support levels.
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