BTC/USD Retraces from 26536.99, Technical Support Levels Identified

• BTC/USD is currently trading around the 26964.88 level, representing the 38.2% retracement of its recent appreciating range from 25810 to 27678.73.
• Technical Support is expected around 25604.51/ 24440.41/ 22769.39 with Stops expected below, while Technical Resistance is expected around 31986.16/ 32989.19/ 34658.73 with Stops expected above.
• On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage and on 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage

BTC/USD Current Trading

Bitcoin (BTC/USD) remained in a relatively tight range early in the Asian session as the pair continued to orbit the 26964.88 level, representing the 38.2% retracement of the recent appreciating range from 25810 to 27678.73 Traders pushed BTC/USD as low as the 26536.99 area during a brief pullback, representing a test of the 61.8% retracement of the same appreciating range..

Downside Price Objectives

Following recent selling pressure, related downside price objectives include 26308, 26093, 25885 and 25604 levels with stops recently elected below 27145, 27108, 26765 and 26729 levels during recent depreciation period related downside price objectives include 25474, 25442 and 25124 levels along with 24705 , 24440 , 23208 and 22769 areas .

Upside Retracement Levels

Following recent price activity areas of technical resistance and potential selling pressure includes 28011 , 28591 , 29171 and 29889 levels . Upside retracement levels in depreciating ranges includes 28428 , 28564 , 28700 , 28741 , 28868 , 29243 and 29299 areas . Above market upside price objectives related to buying pressure around 27194 . 51 & 28161 . 74 includes 30420 . 74 31237 . 11 and 32556 . 73 levels additionally 31477 . 37 32501 . 23 32989 19 34583 96 34658 69 35222 66 37765 28 & 38403 97 are also part of this upside price objective list

Moving Averages

Traders are observing that 50 bar MA (4 hourly) is bearishly indicating below 100 bar MA (4 hourly ) & 200 bar MA (4 hourly ) similarly 50 bar MA (hourly) indicates below 100 bar MA (hourly ) & 200 bar MA (hourly ) At present prices are near 50 bar MA (4 hourly ) at 27000 97 & 50 bar MA (hourly ) at 26872 19

MACD Indicators

On 4 Hourly chart Slow K is bullishly above slow D while MACD is bearishly below MACDAverage On 60 minute chart slow k is bearishly below slow D while MACD is bullishly above MACDAverage

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