
Bitcoin (BTC/USD) encountered additional bearish momentum early in the Asian session as the pair continued to depreciate following major selling pressure that began around the 27500 area and intensified around the 27393, 27304, 27108, and 26795 levels. Stops were elected below many downside price objectives related to these levels including the 26795, 26750, 26726, 26677, 26603, 26586, 26549, 26387, and 26368 areas. Related additional downside price objectives include the 26286, 26204, 26101, 26059, and 25990 areas. A pause to the selling pressure emerged around the 26359.70 area, right around the 200-bar, 4-hour simple moving average.