Bitcoin (BTC/USD) sought to retain some recent gains early in the Asian session as the pair escalated higher to the 26892.65 area, a move that represented another test of an upside price objective around the 26917 area that is related to recent buying pressure around the 24900 and 25763.43 areas.   Related upside price objectives include the 27393, 27982, and 28934 areas while related Stops are cited below the 25852 and 25763 areas.   Additional Stops were recently elected above the 26764.57 area during the appreciation, a previous downside price objective related to selling pressure around the 28184 and 27576 levels.  Bulls are looking to see if BTC/USD can sustain its break above the 200-bar, 4-hour simple moving average.  Traders recently pushed BTC/USD as low as the 24900 area after Stops were elected below a related downside price objective around the 25106.61 area, but bears failed to sustain the downward break. 

A sustained break below the 25462.40 level will elevate bearish pressure as it is another downward price objective corresponding to significant recent selling pressure around the 28184.89 area.  Stops are cited below the 24197.68 level, a downside price objective related to selling pressure around the 30222 area.   Additional price objectives below the market include the 24511

Go to Source to See Full Article
Author: Sally Ho

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details