---
title: "Bitcoin Price Analysis: Magnetic Technical Draw of 26677 – 23 September 2023"
url: https://diffcoin.com/bitcoin-price-analysis-magnetic-technical-draw-of-26677-23-september-2023/
description: "Bitcoin (BTC/USD) awaited fresh technical guidance early in the Asian session as the pair continued to trade around the 26677.10 area, a downside price…"
published: 2023-09-22
updated: 2023-09-22
author: "Mila"
site: "Diffcoin"
---

# Bitcoin Price Analysis: Magnetic Technical Draw of 26677 – 23 September 2023

**Bitcoin (BTC/USD)** awaited **fresh technical guidance** early in the **Asian** session as the pair continued to trade around the **26677.10** area, a **downside price objective** that was easily **absorbed** following **selling pressure** that mounted around the **27393** and **27240** areas. After recently trading as **low** as the **26359.70** area, **BTC/USD appreciated** to the **26742.86** area and **tested** a **downside price objective** linked to recent **selling pressure** around the **27304** and **27108** areas. **Bids** later emerged around the **26550** area, right around a **downside price objective** linked to **selling pressure** around the **27108** and **26795 levels**.

**Below** price activity, **Stops** are **cited below** the **24197.68 level**, a **downside price objective** related to **selling pressure** around the **30222** area. Large **Stops** are cited **below** the **26286** and **25668** areas. Additional **price objectives** **below** the market include the **24511**, **24339**, **23164**, **22949**, **21496**, and **20702** areas. **Above** current price activity, areas of **technical resistance** and potential **selling pressure** include the **26795**, **26929**, **27064**, **27230**, and **27255 levels**. 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 **bearishly** **indicating** **below** the **100-bar MA (hourly)** and **above** the **200-bar MA (hourly)**.

Price activity is nearest the **50-bar MA** (4-hourly) at **26746.43** and the **200-bar MA** (Hourly) at **26729.27**.

**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 **Bullishly above SlowD** while **MACD** is **Bearishly below MACDAverage.**

On **60-minute** chart, **SlowK** is **Bearishly below SlowD** while **MACD** is **Bullishly above 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-magnetic-technical-draw-of-26677-23-september-2023)