Bitcoin is looking increasingly bearish in the short-term horizon after the top cryptocurrency finished last week heavily in the red. The weekly technicals show that the BTCUSD pair is likely to remain under selling pressure while trading below the $36,500 resistance level. The $31,800 support level is a valid downside target for the BTCUSD pair if weakness persists this week.
The BTCUSD pair is only bullish while trading above the $36,500 level, key resistance is found at the $37,500 and the $39,000 levels. If the BTCUSD pair trades below the $36,500 level, sellers may test the $31,800 and $30,000 levels.