Bitcoin Price Analysis: 26917 Upside Again Tested – 17 September 2023

Crypto Daily
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.

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What is the current price of Bitcoin (BTC/USD)?What are the upside price objectives for Bitcoin?Where are the stops located for Bitcoin?What are the technical support and resistance levels for Bitcoin?How are the SlowK and MACD indicators behaving on the 4-hourly and 60-minute charts?

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