Bitcoin has fallen back towards the $19,000 support area after the pioneer cryptocurrency failed to break above the technically important $19,600 level. Technical analysis shows that the BTCUSD pair is currently trading inside a large falling price channel. In the near-term, failure to move above the top of the price channel, around the $19,400 level, could cause the BTCUSD pair to fall towards $17,500 area.
The BTCUSD pair is only bullish while trading above the $18,800 level, key resistance is found at the $19,400 and the $19,600 levels.
If the BTCUSD pair trades below the $18,800 level, sellers may test the $18,400 and $17,500 levels.
