• BTC/USD attempted to resume upward traction early in the Asian session as the pair moved back above the 27000 figure.
• Large Stops were recently elected below the 27477.07 area during recent depreciation, representing a 38.2% retracement of recent appreciating range from 25864.35 to 28473.93.
• Technical Support and Resistance is expected around 25604.51/ 24440.41/ 22769.39 & 31986.16/ 32989.19/ 34658.69 respectively with Stops expected above & below accordingly .
BTC/USD Trends
Bitcoin (BTC/USD) attempted to resume some upward traction early in the Asian session as the pair moved back above the 27000 figure after trading as low as the 26508 area, a relative low just below a downside price objective around the 26526.73 level that is associated with selling pressure around the 28057.23 area. Traders then lifted BTC/USD to the 27275.20 area during a rebound before some volatility returned and the pair depreciated to the 26976 area, resulting in large stops being elected below the 27477.07 area which represented a 38.2% retracement of recent appreciating range from 25864.35 to 28473.93.
Downside Price Objectives
Downside price objectives linked to the 28057