BTC/USD technical analysis: Bitcoin has started to sell off and price is heading to 8k

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  • BTC/USD is trading 3.30% lower today as sentiment weakens across the board.
  • The BTC/USD price is heading toward some key support levels.

On the hourly chart below it seems that price is heading toward the support levels below price.

8,082.48 has been used a few times and seems to be acting like a pivot zone.

The relative strength index (RSI) has shown a bearish sign after the trednline broke to the downside.

Below the 8,082.48 zone the psychological 8k level lies in wait and beyond that 7,700.00 could be the next support area.

The price action seems to be bearish as one lower high and two lower lows have been created but as the US traders come to market lets see if the bearishness can continue.

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