---
title: "Bitcoin Price Analysis: Bears Questioning Whether 26917 Holds – 21 September 2023"
url: https://diffcoin.com/bitcoin-price-analysis-bears-questioning-whether-26917-holds-21-september-2023/
description: "Bitcoin (BTC/USD) awaited new technical guidance early in the Asian session as the pair continued to trade sideways after peaking around the 27500 area, a…"
published: 2023-09-20
updated: 2023-09-20
author: "Mila"
site: "Diffcoin"
---

# Bitcoin Price Analysis: Bears Questioning Whether 26917 Holds – 21 September 2023

**Bitcoin (BTC/USD)** awaited new **technical guidance** early in the **Asian** session as the pair continued to trade **sideways** after **peaking** around the **27500** area, a move **higher** that represented a **test** of **downside retracement levels** related to recent **selling pressure** around the **30222** and **28184** areas. **Technical support** has emerged during multiple **tests** of the **26917.36** area, an **upside price objective** associated with recent **bids** around the **24900** and **25763** areas. Related **price objectives** include the **27982.53** and **28934.72** areas, **above** which **Stops** are cited. The recent **appreciation** **accelerated** when **Stops** were **elected above** the **27099.76** area, a previous **downside retracement level** linked to **selling pressure** around the **28184.89** and **27576.99 levels**.

**Stops** are cited **above** a related **retracement level** around the **27576.99** area. Following recent **upside gains**, areas of **technical support** and potential **buying pressure** include the **26830.89**, **26461.90**, **26163.67**, **25865.44**, and **25440.85 levels**. **Below** price activity, **Stops** are **cited below** the **24197.68 level**, a **downside price objective** related to **selling pressure** around the **30222** area. Additional **price objectives** **below** the market include the **24511**, **24339**, **23164**, **22949**, **21496**, and **20702** areas. Traders are observing that the **50-bar MA (4-hourly)** is **bullishly indicating above** the **100-bar MA (4-hourly)** and **above** the **200-bar MA (4-hourly).** Also, the **50-bar MA (hourly)** is **bullishly** **indicating** **above** the **100-bar MA (hourly)** and **above** the **200-bar MA (hourly)**.

Price activity is nearest the **50-bar MA** (4-hourly) at **26540.17** and the **50-bar MA** (Hourly) at **27065.51**.

**Technical Support** is expected around **24440.41/ 23270.10/ 22769.39** with **Stops** expected below.

**Technical Resistance** is expected around **31986.16/ 32989.19/ 34658.69** with **Stops** expected above.

On **4-Hourly** chart, **SlowK** is **Bearishly below SlowD** while **MACD** is **Bearishly below MACDAverage.**

On **60-minute** chart, **SlowK** is **Bullishly above SlowD** while **MACD** is **Bearishly below MACDAverage**.

Sally Ho’s Technical Analysis 
View Yesterday’s Trading Analysis

*Disclaimer: Sally Ho’s Technical Analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.*

[Source link](https://cryptodaily.co.uk/2023/09/bitcoin-price-analysis-bears-questioning-whether-26917-holds-21-september-2023)