The BTCUSD pair is starting to erode its strong weekly gains as bearish fundamental news and the strengthening US dollar weigh on cryptos. Bitcoin bulls must defend the $37,000 support area today to avoid a price drop towards $36,500 and possibly $35,500. If the $37,000 support level remains defended then the BTCUSD pair could rally back towards the $39,000 level.
The BTCUSD pair is only bullish while trading above the $37,000 level, key resistance is found at the $38,000 and the $39,000 levels.
If the BTCUSD pair trades below the $37,000 level, sellers may test the $36,500 and $35,500 levels.