Bitcoin (BTC/USD) extended its recent pullback early in the Asian session as the pair continued to remain pressured below the 100-hour simple moving average after recently encountering selling pressure around the 25214.57 area, its strongest print since early June. Stops were elected above the 25142.29 area during the move higher, representing the 23.6% retracement of the appreciating range from 3858 to 31717.02. Upside retracement levels in the depreciating range from 31549.21 to 17567.45 include the 26208, 28249, and 28557 areas.
Additional upside price objectives and areas of potential selling pressures include the 25552, 26323, 26411, 26901, 27126, 27455, 28426, and 29669 areas. Below recent price activity, possible technical support and areas of buying pressure include the 22582, 22141, 21596, 20446, 19852, and 19762 levels. Additional significant technical areas on the downside include the 16990.14, 14500.15, and 10432.73 areas. Traders areobservingthat the50-bar MA (4-hourly)isbullishly indicating above the 100-bar MA (4-hourly)andabove the200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).
Price activity is nearest the50-bar MA(4-hourly) at 23958.94 and the200-bar MA(Hourly) at 23971.56.
Technical Supportis expected around16990.14/ 14500.15/ 10432.73 withStopsexpected below.
Technical Resistanceis expected around25256.96/ 27455.20/ 32383.96 withStopsexpected above.
On4-Hourlychart,SlowKis Bearishly below SlowDwhileMACDis Bearishly below MACDAverage.
On60-minutechart,SlowKis Bullishly above SlowDwhileMACDisBearishly below MACDAverage.
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