Bitcoin is under mild selling pressure as the new trading week begins, as traders await a much needed directional move in the number one cryptocurrency. Technically, the BTCUSD pair is trading within a bullish flag pattern in the short-term, which may indicate that an upside move is likely to occur. To the downside, if sellers can break the former weekly low a test of the $3,300 level seems the most likely scenario.
The BTCUSD pair is only bearish while trading below the $3,415 level, key technical support is found at the $3,300 and $3,100 levels.
If the BTCUSD pair trades above the $3,660 level, key resistance is found at the $3,960 and $4,220 levels.
