Bitcoin Price Analysis: 26917 Upside Again Tested – 17 September 2023
Crypto Daily
16 Sep 2023 4:00 PM
Bitcoin (BTC/USD) sought to retain some recent gains early in the Asian session as the pair escalated higher to the 26892.65 area, a move that represented another test of an upside price objective around the 26917 area that is related to recent buying pressure around the 24900 and 25763.43 areas....
- Bitcoin (BTC/USD) is attempting to maintain recent gains and has reached the 26892.65 area.
- There are upside price objectives at 26917, 27393, 27982, and 28934.
- Stops are located below the 25852 and 25763 areas.
- Additional Stops were triggered above 26764.57.
- Bears failed to sustain a downward break below the 24900 area.
- A sustained break below 25462.40 would increase bearish pressure.
- Technical support and potential buying pressure can be found at various levels.
- The 50-bar MA (4-hourly) is below the 100-bar MA (4-hourly) and the 200-bar MA (4-hourly).
- The 50-bar MA (hourly) is above the 100-bar MA (hourly) and the 200-bar MA (hourly).
- Price activity is closest to the 200-bar MA (4-hourly) at 26693.13 and the 50-bar MA (hourly) at 26541.67.
- Technical support is expected at 24440.41, 23270.10, and 22769.39.
- Technical resistance is expected at 31986.16, 32989.19, and 34658.69.
- The SlowK and MACD indicators are bearish on the 4-hourly and 60-minute charts.
The sentiment of the article is neutral, providing technical analysis and information about Bitcoin's price movements.