---
title: "Bitcoin Price Analysis: Orbiting 26585 – 18 September 2023"
url: https://diffcoin.com/bitcoin-price-analysis-orbiting-26585-18-september-2023/
description: "Bitcoin (BTC/USD) experienced a slight bid early in the Asian session as the pair continued to orbit the 26585.66 level after testing the 26917.36 area,…"
published: 2023-09-17
updated: 2023-09-17
author: "Mila"
site: "Diffcoin"
---

# Bitcoin Price Analysis: Orbiting 26585 – 18 September 2023

**Bitcoin (BTC/USD)** experienced a slight **bid** early in the **Asian** session as the pair continued to **orbit** the **26585.66 level** after **testing** the **26917.36** area, an **upside price objective** associated with recent **appreciating** activity around the **24900** and **25763.43** areas. The **26585** area represents a **downside price objective** linked to recent **depreciating** activity around the **30222** and **28184.89** areas. Traders have recently found a **bid above** the **50-bar**, **12-hour simple moving average** but have been **unable** to **sustain** a **test** and **break above** the **200-bar**, **4-hour simple moving average**. Traders recently **pushed BTC/USD** as **low** as the **24900** area after **Stops** were **elected below** a related **downside price objective** around the **25106.61** area, but bears **failed** to **sustain** the **downward break**.

A **sustained break below** the **25462.40 level** will elevate **bearish pressure** as it is another **downward price objective** corresponding to significant recent **selling pressure** around the **28184.89** area. **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. **Technical support** and potential **buying pressure** in **appreciating ranges** from the **15460** and **19568.52 levels** include the **23661**, **22793**, and **21725 levels**. Some **Stops** are cited **above** the **27099** and **27576** 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 **bullishly** **indicating** **above** the **100-bar MA (hourly)** and **above** the **200-bar MA (hourly)**.

Price activity is nearest the **200-bar MA** (4-hourly) at **26650.66** and the **50-bar MA** (Hourly) at **26530.23**.

**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-orbiting-26585-18-september-2023)