The BTCUSD pair has begun a much-needed pullback after finding strong weekly technical resistance from the $11,700 area. Technical analysis shows that the recent downside move could reach either the $11,100 or $10,800 area before bulls start to move in. Traders should note that the BTCUSD pairs monthly pivot point is currently located at the $10,580 resistance level.
The BTCUSD pair is only bullish while trading above the $11,100 level, key resistance is found at the $11,500 and the $11,700 levels.
If the BTCUSD pair trades below the $11,100 level, sellers may test the $11,000 and $10,800 levels.
