The short-term technicals surrounding the BTCUSD pair look increasingly bearish, following bearish news surrounding the cryptocurrency exchange BitMex. A bullish inverted head and shoulders pattern on the lower time frames is still warning of a possible recovery towards the $11,400. Bulls need to defend the $10,300 support zone to stop a more protracted decline towards $10,000.
The BTCUSD pair is only bullish while trading above the $10,650 level, key resistance is found at the $10,900 and the $11,400 levels.
If the BTCUSD pair trades below the $10,650 level, sellers may test the $10,300 and $10,100 levels.
