Bitcoin has started to test lower during the European session, after appearing to find an interim price ceiling, just below the $12,100 resistance level. The BTCUSD pair is expected to come under further selling pressure while trading below the technically important $11,875 level. Overall, BTCUSD sellers may be looking to target the $11,300 to $11,100 support area in the short-term.
The BTCUSD pair is only bullish while trading above the $11,875 level, key resistance is found at the $12,100 and the $12,500 levels.
If the BTCUSD pair trades below the $11,875 level, sellers may test the $11,300 and $11,100 levels.
