Bitcoin is trading in an increasing narrow price range as traders start to become cautious towards the number one cryptocurrency, ahead of the upcoming halving event. Sellers need to break the $6,550 level to encourage selling towards the $6,000 level. Bulls need to hold price above the $7,100 level to prompt another technical test at the BTCUSD pairs current monthly high.
The BTCUSD pair is only bullish while trading above the $7,100 level, key resistance is found at the $7,450 and the $7,800 levels.
If the BTCUSD pair trades below the $7,100, sellers may test the $6,550 and $6,000 support levels.
