Bitcoin (BTC/USD) was slightly stronger early in today’s Asian session as the pair escalated higher to the 11,950.00 level, stopping just short of testing an important level around the 11,978.03 area, representing the 38.2% retracement of the 8,919.72 – 13,868.44 range. The next upside price level related to this range is the 12,700.54 area and the next downside price level related to this range is the 11,394.08 area. Early in today’s Asian session, the pair found some buying demand right around the 100-bar MA (4-hourly), currently indicating around the 11,612.88
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