Bitcoin remains under pressure this morning as the first cryptocurrency struggles to hold the price above the $ 32,000 level. Technical analysis highlights that bulls need to keep the BTCUSD pair above the $ 31,000 level to avoid further heavy selling. Traders should note that the short-term trading trend for the BTCUSD pair remains bearish while price remains under the $ 32,900 level.
The BTCUSD pair is only bullish while trading above the $ 32,900 level, key resistance is found at the $ 33,300 and the $ 35,000 levels.
If the BTCUSD pair trades below the $ 32,900 level, sellers may test the $ 31,000 and $ 30,000 levels.