has suffered a heavy technical rejection from the $13,000 level, as bulls failed for the second day to maintain price above this crucial area. The bearish head and shoulders
pattern on the four-hour time frame is now complete, with the $11,800 level back in focus. The overall negative sentiment in the entire cryptocurrency market is also weighing on the BTCUSD
pair is only bullish
while trading above the $12,400 level, key resistance is located at the $13,000 and $13,300 levels.
If the BTCUSD
pair trades under the $12,400 level, sellers may test towards the $10,500 and $9,600 support levels.