- Bitcoin (BTC/USD) is trading near recent multi-session lows, orbiting the 27283.59 area.
- Downside price objectives related to recent depreciating ranges and levels include the 27119, 26533, 26085, 25604, and 24103 levels.
- Retracement levels and areas of potential technical resistance include the 29159, 29383, 29408, 29657, 29701, 29965, 30012, 30413 and 30472 levels
Bitcoin (BTC/USD) is trading near recent multi-session lows in the Asian session as it continues to orbit around the 27283.59 area. Upside price objectives include the 31477.37 level while downside price objectives related to recent depreciating ranges and levels include the 27119 level. Retracement levels and areas of potential technical support also exist based on recent activity.
Downside Price Objectives
Recent depreciating ranges and levels have established certain downside price objectives for Bitcoin (BTC/USD), including the 27119 level as well as 26533, 26085, 25604 and 24103. These represent key areas that traders should be aware of for possible selling pressure in future market activity.
Retracement Levels & Resistance Areas
Given recent market activity there are now certain retracement levels & areas of potential technical resistance that traders should be aware of when making their trading decisions. These include 29159, 29383, 29408 ,29657 ,29701 ,29965 ,30012 ,30413 & 30472 respectively.
Upside Price Objectives
In terms of upside scenarios for Bitcoin (BTC/USD), traders should consider a number of price objectives if this occurs – 31477.37 ,32501.23 ,32989.19 ,34583.96 ,3465869 & 35222 66 being some key ones to look out for . Other important targets are 31846 88 which represents 50% retracement from 48233 76 to 15460 .