Bitcoin is starting to correct lower on Thursday, after finding strong technical resistance from just below the key $8,500 level. The BTC/USD pair has also reached overbought trading conditions on the MACD and RSI indicators, across the four-hour time frame. Sellers will now try to push price back below the $8,000 support level, while buyers will once again look to break the $8,500 resistance level.
The BTCUSD pair is likely to weaken further while trading below the $8,000 level, key technical support below the $8,000 level is located at the $7,800 and $7,680 levels.
If the BTCUSD pair moves back above the $8,460 level, buyers will likely target the $8,500 and $8,800 resistance levels.
The BTCUSD pair is likely to weaken further while trading below the $8,000 level, key technical support below the $8,000 level is located at the $7,800 and $7,680 levels.
If the BTCUSD pair moves back above the $8,460 level, buyers will likely target the $8,500 and $8,800 resistance levels.
