Bitcoin has slipped lower in early week after the number one cryptocurrency repeatedly failed to hold price above the $7,200 technical area. Going forward, BTCUSD bulls need to defend the $6,900 support level to avoid a decline back towards the $6,550 level. If bulls can move price above the $7,200 level then BTCUSD buyers are likely to try to breach the current monthly high, around the $7,465 level.
The BTCUSD pair is only bullish while trading above the $7,000 level, key resistance is found at the $7,465 and the $7,650 levels.
If the BTCUSD pair trades below the $7,000, sellers may test the $6,900 and $6,550 support levels.
