Bitcoin has started the new trading week under pressure, as regulatory uncertainty continues to keep the number one cryptocurrency trading on the back foot. The BTCUSD pair may gravitate towards the wedge pattern bottom, after last weeks rejection from the topside trendline. Sellers will aim to break the $6,000 support level, while buyers will look to stabilize price above the $6,550 level.
The BTCUSD pair is only intraday bearish while trading below the $6,550 level, key support is located at the $6,000 and $5,700 levels.
If the BTCUSD pair moves back above the $6,550 level, price may correct back towards the $6,730 and $6,838 resistance levels.