Bitcoin Technical Analysis Report | 25th-September-2023


Bitcoin’s price has remained within a well-established range, with the latest close around $26,500 on September 24th. Exchange traders continue to accumulate Bitcoin, but the bulls have struggled to initiate a significant upward move. This suggests that there might be limited demand at higher price levels. Despite macroeconomic volatility and catalysts from the United States, Bitcoin has maintained its price stability, providing a relatively calm ending to the Wall Street trading week. It’s important to monitor Bitcoin’s price dynamics and market developments to gain insights into its future movements.

At the time of writing BTC was trading at $26,161

Bitcoin Daily Chart | 25th-September-2023
Bitcoin (BTC) Chart

BTC is trying to take support at the crucial level  of $25,000 (Horizontal Trendline & 50% Fibonacci Retracement Level). The lower shadow and the big green body candle indicates buying near the psychological support level but with low volumes. $28,500 and $32,500 will act as a major hurdle for the bulls and to witness a rally it needs to break, close and sustain above $32,500 whereas a break below the support $25k will lead to further downfall.

Key Levels:

Support 2Support 1AssetResistance 1Resistance 2.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Each investor must do his/her own research or seek independent advice if necessary before initiating any transactions in crypto products and NFTs. The views, thoughts, and opinions expressed in the article belong solely to the author, and not to ZebPay or the author’s employer or other groups or individuals. ZebPay shall not be held liable for any acts or omissions, or losses incurred by the investors. ZebPay has not received any compensation in cash or kind for the above article and the article is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

Start Trading Now