Bitcoin was holding above the psychological support level of $6,000, extending bulls’ hopes that the pullback is still expected. But just now, the BTC/USD has slipped below $6,000 to place a low of $5,858.

As you can see, the crypto pair is following a strong bearish trend as the 100 periods moving average is supporting the selling bias. Now, the bearish channel on the 4- hour chart is likely to extend support near $5,775. While on the upper side, the BTC can face resistance near $6,140.