March 5, OctaFX – Bitcoin price has fallen below the important $3,700 support level in early Tuesday trade, with the number one cryptocurrency at increasing risk of losing its short-term bullish bias.
Bitcoin price technical prediction
The broader cryptocurrency market is also under pressure, with a number of top digital currencies declining on light trading volumes. A sustained break below the $3,700 level should accelerate technical selling toward the $3,550 support level.
The BTCUSD pair is bearish while trading below the $3,700 level, key technical support is found at the $3,550 and $3,330 levels.
If the BTCUSD pair moves back the $3,700 level, buyers may test towards the $3,980 and $4,100 resistance levels.
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