Bitcoin (BTC/USD) awaited fresh technical guidance early in the Asian session as the pair continued to trade around the 26677.10 area, a downside price objective that was easily absorbed following selling pressure that mounted around the 27393 and 27240 areas.  After recently trading as low as the 26359.70 area, BTC/USD appreciated to the 26742.86 area and tested a downside price objective linked to recent selling pressure around the 27304 and 27108 areas.  Bids later emerged around the 26550 area, right around a downside price objective linked to selling pressure around the 27108 and 26795 levels. 

Below price activity, Stops are cited below the 24197.68 level, a downside price objective related to selling pressure around the 30222 area.  Large Stops are cited below the 26286 and 25668 areas.   Additional price objectives below the market include the 24511, 24339, 23164, 22949, 21496, and 20702 areas.  Above current price activity, areas of technical resistance and potential selling pressure include the 26795, 26929, 27064, 27230, and 27255 levels.   Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).  Also, the 50-bar MA (hourly) is bearishly indicating

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Author: Sally Ho

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