Bitcoin is starting to turn lower, following the recent technical rejection from critical weekly resistance, around the $11,100 level. A bearish head and shoulders pattern is building over the lower time frames and is pointing to a potential decline towards the $10,600 area. Technical analysis shows that an overextension towards the $10,400 support zone is also possible.
The BTCUSD pair is only bullish while trading above the $10,800 level, key resistance is found at the $11,100 and the $11,400 levels.
If the BTCUSD pair trades below the $10,800 level, sellers may test the $10,600 and $10,400 levels.
