---
title: "Bitcoin Price Analysis: Orbiting 26034 Level – 27 August 2023"
url: https://diffcoin.com/bitcoin-price-analysis-orbiting-26034-level-27-august-2023/
description: "Bitcoin Price Analysis: Orbiting 26034 Level – 27 August 2023 Bitcoin (BTC/USD) remained confined to a tight range early in the Asian session as the pair…"
published: 2023-08-26
updated: 2023-08-26
author: "Mila"
site: "Diffcoin"
---

# Bitcoin Price Analysis: Orbiting 26034 Level – 27 August 2023

**Bitcoin Price Analysis: Orbiting 26034 Level – 27 August 2023**

Bitcoin (BTC/USD) remained **confined** to a **tight range** early in the **Asian** session as the pair **orbited** the **26034.43** area, right around the **38.2% retracement** of the **appreciating range** from **25610** to **26296.78**. Price activity **spiked** to **test** the **26296** area before **coming off** to the **25750** area, representing a **test** of the **78.6% retracement** of the same **appreciating range**. During a recent **appreciation**, **Stops** were **elected above** the **28778.57** area, a **level** that represents the **50% retracement** of the **depreciating range** from **31862.21** to **21694.92**. Areas of **technical support** and potential **buying pressure** in **appreciating ranges** from the **15460** and **19568.52 levels** include the **23661**, **22793**, and **21725 levels**. Following recent **selling pressure**, areas of **technical resistance** and potential **selling pressure** include the **27139**, **27728**, **27766**, **28316**, **28548**, **29154**, **29330**, and **30443 levels**.

The recent fresh **multi-month low** around the **25234.76** area represented a **test** of a major **downside price objective** around the **25128.94** area that is associated with **selling pressure** that **increased** around the **31862.21** and **30421.29 levels** in July. **Above** the market, **upside price objectives** include the **30526**, **30611**, **30762**, and **31145** areas. **Upside price objectives** related to other **levels** of **buying pressure** include the **32125** and **33569** areas, and **Stops** are cited **above** additional **upside price objectives** around the **32043**, **34531**, **34658**, and **35912** areas. Traders are observing that the **50-bar MA (4-hourly)** is **bearishly indicating below** the **100-bar MA (4-hourly)** and **below** the **200-bar MA (4-hourly).** Also, the **50-bar MA (hourly)** is **bearishly** **indicating** **below** the **100-bar MA (hourly)** and **below** the 2 **00-bar MA (hourly)**.

Price activity is nearest the **50-bar MA** (4-hourly) at **26114.43** and the **50-bar MA** (Hourly) at **26051.83**.

**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 **Bullishly above MACDAverage.**

On **60-minute** chart, **SlowK** is **Bullishly above 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/2023/8/bitcoin-price-analysis-orbiting-26034-level-27-august-2023)