BTCUSD Not Convinced

Bitcoin traders are braced for a third consecutive day of losses as the top cryptocurrency remains technically challenged in the short term. The daily time frame shows that a recovery is in the EURUSD pair is still on the table while the $31,200 support level remains well-defended. Overall, the volumes behind the selling on the spot market are not as strong as the buying volumes which is a good sign.

The BTCUSD pair is only bullish while trading above the $35,000 level, key resistance is found at the $36,600 and the $36,600 levels. If the BTCUSD pair trades below the $35,000 level, sellers may test the $38,200 and $31,200 levels.

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