BTCUSD $8,750 KEY PIVOT

Bitcoin is under slight downside pressure at the start of the new trading week, after the BTCUSD pair suffered its largest monthly loss since November 2019. BTCUSD bulls need to hold price above the $8,750 level to encourage technical buying towards the $9,200 level. A sustained loss of the $8,400 level should see the BTCUSD pair tumbling towards the $8,200 support level.

• The BTCUSD pair is only bullish while trading above the $8,750 level, key resistance is found at the $9,200 and the $9,800 levels.

• If the BTCUSD pair trades below the $8,750, sellers may test the $8,100 and $7,900 support levels.