Bitcoin remains under pressure this morning as the first cryptocurrency struggles to hold the price above the $32,000 level. Technical analysis highlights that bulls need to keep the BTCUSD pair above the $31,000 level to avoid further heavy selling. Traders should note that the short-term trading trend for the BTCUSD pair remains bearish while the price remains under the $32,900 level.
The BTCUSD pair is only bullish while trading above the $32,900 level, key resistance is found at the $33,300 and the $35,000 levels.
If the BTCUSD pair trades below the $32,900 level, sellers may test the $31,000 and $30,000 levels.