BTCUSD pair is bearish below $6,550


BTCUSD pair is bearish below $6,550 following the bearish news from Goldman Sachs over the delay of a cryptocurrency trading desk. Are further losses towards the $6,000 and $5,800 levels possible? Find out here!

7 September, OctaFX – Bitcoin came under heavy selling pressure alongside the broader cryptocurrency in the first trading week of September, as bearish news from Goldman Sachs pushed the BTCUSD pair back towards the $6,000 level.

Goldman Sachs announced the delay of a cryptocurrency trading desk over fears about regulatory uncertainty in the crypto market. Ethereum was also sold sharply lower on the news, with the second largest cryptocurrency by market capitalization falling to a fresh yearly trading low around the $200.00 level.

BTCUSD pair is bearish below $6,550

  • The BTCUSD pair is bearish while trading below the $6,550 level, further losses towards the $6,000 and $5,800 levels seem possible.
  • If the BTCUSD pair trades above the $6,500 level, further gains towards the $6,700 and $6,830 resistance levels remains possible.

Disclaimer

This article about BTCUSD pair is bearish below $6,550 was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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