Bitcoin (BTC/USD) encountered additional bearish pressure early in the Asian session as the pair continued to establish lower highs and lower lows, an indication of technical weakness. Selling pressure drove BTC/USD as low as the 26963.65 area, temporarily trading below the 61.8% retracement of the recent appreciating range from 25983.78 to 28613.37. Stops were elected below the 27097.06 and 27029.82 areas during the depreciation, downside price objectives associated with recent selling pressure around the 28288.88 level. Additional downside price objectives include the 26732, 26365, and 25770 levels. Below the market, Stops are accruing below some downside price objectives including the 24155, 23270, 23204, 23164, 22949, 22028, 21496, 21242, and 20702 areas.
Areas of technical resistance and potential selling pressure remain the 28934, 29228, 29665, 29964, 30053, and 30222 levels. Further above the market, Stops are cited above the 30178 and 31862 areas. Three
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