{"id":13424,"date":"2022-11-28T03:52:59","date_gmt":"2022-11-28T03:52:59","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/11\/28\/this-scenario-will-trigger-a-fresh-drop\/"},"modified":"2022-11-28T03:52:59","modified_gmt":"2022-11-28T03:52:59","slug":"this-scenario-will-trigger-a-fresh-drop","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/11\/28\/this-scenario-will-trigger-a-fresh-drop\/","title":{"rendered":"This Scenario Will Trigger A Fresh Drop"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin worth struggled to clear the $16,800 resistance. BTC is shifting decrease and there&#8217;s a danger of extra losses under the $16,000 assist zone.<\/em><\/p>\n<ul>\n<li>Bitcoin tried an upside break above the $16,800 resistance, however failed.<\/li>\n<li>The worth is buying and selling under $16,500 and the 100 hourly easy shifting common.<\/li>\n<li>There is a serious bearish development line forming with resistance close to $16,550 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair may proceed to say no if it breaks the $16,000 assist zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Rejection<\/h2>\n<p><a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-faces-rejection-17k\/\" target=\"_blank\" rel=\"noopener\">Bitcoin price attempted an upside break<\/a> above the $16,800 resistance zone. BTC struggled to achieve tempo for a transfer above the $16,800 resistance and shaped a double prime sample.<\/p>\n<p>There was a gradual and regular decline from the $16,791 excessive. There was a transfer under the $16,500 and $16,400 ranges. The bears had been capable of push the worth under the 23.6% Fib retracement degree of the upward transfer from the $15,470 swing low to $16,790 excessive.<\/p>\n<p>Bitcoin worth is now buying and selling under $16,500 and the <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-prediction-recovery-17k\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>. There can be a serious bearish development line forming with resistance close to $16,550 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The worth is now consolidating close to the 50% Fib retracement degree of the upward transfer from the $15,470 swing low to $16,790 excessive. On the upside, a right away resistance is close to the $16,300 degree.<\/p>\n<p><a href=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-11.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-510235\" src=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-11.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-11.png 1834w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-11-460x212.png 460w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-11-860x396.png 860w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-11-768x354.png 768w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-11-1536x708.png 1536w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-11-750x346.png 750w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-11-1140x525.png 1140w\" sizes=\"auto, (max-width: 1834px) 100vw, 1834px\"\/><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>The first main resistance is close to the $16,500 zone, the 100 hourly easy shifting common, and the highlighted bearish development line. A profitable transfer above the $16,500 resistance may ship the worth additional greater. The subsequent main resistance is close to $16,800, above which the worth may acquire tempo for a transfer in the direction of the $17,500 zone.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to climb above the $16,500 resistance, it may proceed to maneuver down. An rapid assist on the draw back is close to the $16,100 degree.<\/p>\n<p>The subsequent main assist is close to the $16,000 zone, under which the worth may acquire bearish momentum. In the said case, the worth may drop in the direction of the $15,500 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 $16,100, adopted by $16,000.<\/p>\n<p>Major Resistance Levels \u2013 $16,5<em>00<\/em>, $16,800 and $17,000.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-prediction-fresh-drop-16k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin worth struggled to clear the $16,800 resistance. BTC is shifting decrease and there&#8217;s a danger of extra losses under the $16,000 assist zone. Bitcoin tried an upside break above the $16,800 resistance, however failed. The worth is buying and selling under $16,500 and the 100 hourly easy shifting common. There is a serious 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