The BTCUSD pair has tumbled below the $7,000 level due to heavy technical selling and the continuation of the recent bearish trend in the cryptocurrency. Selling rallies back towards the $7,000 resistance level is currently the preferred trading strategy. The BTCUSD pair could fall towards the lower end of the falling wedge pattern on the daily time frame, around the $6,100 level.
The BTCUSD pair is only bullish while trading above the $7,000 level, key resistance is located at the $7,400 and $7,600 levels.
If the BTCUSD pair trades under the $7,000 level, sellers may test towards the $6,500 and $6,100 support levels.
