{"id":12525,"date":"2022-11-11T03:34:28","date_gmt":"2022-11-11T03:34:28","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/11\/11\/bitcoin-price-rejects-18k-why-there-is-risk-of-another-drop-to-16k\/"},"modified":"2022-11-11T03:34:28","modified_gmt":"2022-11-11T03:34:28","slug":"bitcoin-price-rejects-18k-why-there-is-risk-of-another-drop-to-16k","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/11\/11\/bitcoin-price-rejects-18k-why-there-is-risk-of-another-drop-to-16k\/","title":{"rendered":"Bitcoin Price Rejects $18K, Why There is Risk of Another Drop To $16K"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div wp_automatic_readability=\"97.355871886121\">\n<p><em>Bitcoin value recovered over $1,500 and climbed above $17,500. BTC didn&#8217;t clear the $18,000 resistance and began a recent decline.<\/em><\/p>\n<ul>\n<li>Bitcoin began a restoration wave above the $17,000 and $17,200 resistance ranges.<\/li>\n<li>The value is buying and selling under $18,500 and the 100 hourly easy transferring common.<\/li>\n<li>There is a key bullish pattern line forming with assist close to $16,900 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair might resume its decline if there is an in depth under the $16,750 assist zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Key Hurdle<\/h2>\n<p>Bitcoin value declined closely under the $18,000 assist zone. FTX\u2019s fall is nonetheless hurting the market and there was a robust decline in the direction of the $16,000 assist zone.<\/p>\n<p>The value traded as little as $15,555 and lately began an upside correction, just like <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-approaches-1000\/\" target=\"_blank\" rel=\"noopener\">ethereum<\/a>, bnb, and <a href=\"https:\/\/www.newsbtc.com\/analysis\/xrp\/xrp-price-prediction-why-the-bulls-could-protect-this-crucial-support\/\" target=\"_blank\" rel=\"noopener\">ripple<\/a>. There was a gentle restoration wave above the $16,500 and $17,000 resistance ranges. The value climbed above the 23.6% Fib retracement degree of the principle decline from the $20,670 swing excessive to $15,555 low. There is additionally a key bullish pattern line forming with assist close to $16,900 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Bitcoin value additionally moved above the $17,500 degree, but it surely struggled close to the $18,000 resistance zone. The 50% Fib retracement degree of the principle decline from the $20,670 swing excessive to $15,555 low additionally acted as a robust resistance.<\/p>\n<p>It is now buying and selling under $18,500 and the 100 hourly easy transferring common. On the upside, a right away resistance is close to the $17,400 degree. The first main resistance is close to the $18,000 degree.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-8.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-510291\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-8.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-8.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-8-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-8-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-8-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-8-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-8-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-8-1140x525.png 1140w\" sizes=\"auto, (max-width: 1834px) 100vw, 1834px\"\/><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener\">BTCUSD on TradingView.com<\/a><\/p>\n<p>A transparent transfer above the $18,000 resistance would possibly push the worth additional larger. The subsequent main resistance is close to $18,500 or the 100 hourly easy transferring common, above which the worth might check the $20,000 zone.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to begin a restoration wave above the $18,500 resistance zone, it might proceed to maneuver down. An fast assist on the draw back is close to the $16,900 degree and the pattern line.<\/p>\n<p>The subsequent main assist is close to the $16,750 zone. A transparent transfer under the $16,750 assist would possibly push the worth additional decrease. In this case, the worth might maybe decline in the direction of the $16,000 assist zone.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining tempo within the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now under the 50 degree.<\/p>\n<p>Major Support Levels \u2013 $16,900, adopted by $16,750.<\/p>\n<p>Major Resistance Levels \u2013 $17,400, $18,000 and $18,500.<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-rejects-18k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin value recovered over $1,500 and climbed above $17,500. BTC didn&#8217;t clear the $18,000 resistance and began a recent decline. Bitcoin began a restoration wave above the $17,000 and $17,200 resistance ranges. The value is buying and selling under $18,500 and the 100 hourly easy transferring common. There is a key bullish pattern line 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