Bitcoin (BTC/USD) has experienced increased volatility in the Asian session, hovering around the 26,000 mark after trading as low as 25,350. Upward pressure then lifted BTC/USD to 26,180.54, testing the 23.6% retracement of the wider appreciating range from 24,750 to 26,589.41. The recent multi-month low around 25,234.76 tested a major downside price objective of 25,128.94, associated with increased selling pressure around the 31,862.21 and 30,421.29 levels in July.

Technical support and potential buying pressure in appreciating ranges from the 15,460 and 19,568.52 levels include the 23,661, 22,793, and 21,725 levels. Following recent selling pressure, areas of technical resistance and potential selling pressure include the 26,798, 27,139, 27,728, 27,766, 28,316, 28,548, 29,154, 29,330, and 30,443 levels. Above the market, upside price objectives include the 30,526, 30,611, 30,762, and 31,145 areas.

Traders are observing that the 50-bar MA (4-hourly) is bearishly indicating below the 100-bar MA (4-hourly) and below the 200-bar MA (4-hourly). The 50-bar MA (hourly) is also bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly). Technical support is expected around 24,440.41/ 23,270.10/ 22,769.39 with stops expected below. Technical resistance is expected around 31,986.16/ 32,989.19/ 34,658.69 with stops expected above.