Bitcoin remains under pressure on the cryptocurrency market as gains in the ETHUSD pair continue to grab market share from the top coin. No clear buy signal exists for the BTCUSD pair at the moment, after bulls fail to reclaim the 50-day moving average. Related upside failure around current levels and the BTCUSD pair could easily be sold back down towards the $51,300 support zone.
The BTCUSD pair is only bullish while trading above the $54,000 level, key resistance is found at the $55,500 and the $57,000 levels. If the BTCUSD pair trades below the $54,000 level, sellers may test the $52,800 and $51,300 levels.