• Bitcoin (BTC/USD) extended its recent depreciation early in the Asian session as the pair continued to orbit the 21856.82 area that represents the 61.8% retracement of the appreciating range from 20370.01 to 24262.18.
• Following selling pressure that strengthened around the 22832.44 area, downside price objectives include the 21756.86, 20982.96, 20209.06, 19251.53, and 17703.74 areas.
• Upside price objectives related to buying pressure around the 16326.16 area include the 25455, 25774, 27609, and 28004 levels.

Bitcoin Price Movement

Bitcoin (BTC/USD) extended its recent depreciation early in the Asian session as it traded around 21856.82 which is a 61.8% retracement of its range from 20370.01 to 24262.18 after hitting multi-month highs recently due to Stops being elected above 24224 level which was an upside price objective related to buying pressure that emerged around 15460 and 20370 levels respectively..

Downside Price Objectives

Following selling pressure that strengthened around 22832 level , downside price objectives include 21756,20982 , 20209 ,19251 and 17703 areas respectively .

Upside Price Objectives

Upside price objectives related to buying pressure around 16326 are 25455 ,25774 ,27609 and 28004 levels .

Technical Support & Resistance

Technically significant support levels for BTC/USD includes 22184 , 21230 ,20294 , 19861 ,19357 and 18822 while resistance includes 15900 , 15512 , 15313 ,14500 14364 13369 10727 10432 9682 8837 7538 respectively .

Moving Averages

The 50-bar MA (4-hourly) is bullishly indicating above 100-bar MA (4-hourly) and 200-bar MA (4-hourly).On other hand 50 bar MA hourly is bearishly indicating below 100 bar MA hourly & 200 bar MA hourly respectively .Price activity is nearest 200 bar MA 4 hourly at 21381 & 50 bar MA hourly at 21077 respectively .