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Bitcoin has posted three straight weekly losses for the first time since May, raising concerns about further declines, according to The Crypto Basic.
Crypto trader and analyst That Martini Guy said a similar pattern appeared in May, when Bitcoin gave back all of its gains from early in the second quarter. Another analyst, CryptoLinus, identified $80,700 as a key support level and said BTC had closed above that range on the daily chart for 37 straight days. As selling pressure builds, a break below that level could send BTC down to $75,000, CryptoLinus said. According to CoinMarketCap, BTC was trading at $80,287, up 0.21%, at the time of writing.