BTCUSD $57,000 Break

Bitcoin has broken below the $ 57,000 level causing further downside pressure towards the top cryptocurrency in the short-term. The Bollinger Band on the daily time frame shows that a further breakout towards the $ 53,000 level could be on the cards if BTCUSD holds below $ 57,000. Selling pressure towards Bitcoin is likely to increase significantly if the $ 55,500 support level is broken.

The BTCUSD pair is only bullish while trading above the $ 57,000 level, key resistance is found at the $ 60,000 and the $ 61,800 levels.

If the BTCUSD pair trades below the $ 57,000 level, sellers may test the $ 55,500 and $ 53,000 levels.