{"id":13673,"date":"2022-12-01T03:35:30","date_gmt":"2022-12-01T03:35:30","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/12\/01\/bitcoin-price-clears-17k-why-dips-turn-attractive-in-short-term\/"},"modified":"2022-12-01T03:35:30","modified_gmt":"2022-12-01T03:35:30","slug":"bitcoin-price-clears-17k-why-dips-turn-attractive-in-short-term","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/12\/01\/bitcoin-price-clears-17k-why-dips-turn-attractive-in-short-term\/","title":{"rendered":"Bitcoin Price Clears $17K, Why Dips Turn Attractive In Short-Term"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin worth was in a position to clear the $17,000 resistance. BTC is consolidating good points and would possibly stay supported above the $16,750 stage.<\/em><\/p>\n<ul>\n<li>Bitcoin gained tempo and cleared the $16,800 and $17,000 resistance ranges.<\/li>\n<li>The worth is buying and selling above $16,800 and the 100 hourly easy shifting common.<\/li>\n<li>There is a key bullish development line forming with help close to $16,950 on the hourly chart of the BTC\/USD pair (information feed from Kraken).<\/li>\n<li>The pair may rise additional if it stays above the $16,500 help zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Extends Gains<\/h2>\n<p><a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-regains-traction-17k\/\" target=\"_blank\" rel=\"noopener\">Bitcoin price remained well bid<\/a> above the $16,500 help zone. BTC gained tempo and was in a position to clear the $16,800 resistance zone plus the 100 hourly easy shifting common.<\/p>\n<p>The upward transfer was such that the worth even surpassed the $17,000 resistance zone. It traded as excessive as $17,250 earlier than the bulls confronted sellers. It is now consolidating good points above the $17,000 stage. The worth is buying and selling close to the 23.6% Fib retracement stage of the upward transfer from the $16,690 swing low to $17,250 excessive.<\/p>\n<p>Bitcoin worth is now buying and selling above $16,800 and the <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-higher-over-16-5k\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>. There can also be a key bullish development line forming with help close to $16,950 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>On the upside, an instantaneous resistance is close to the $17,950 stage. The first main resistance is close to the $17,500 zone, above which the worth could maybe begin one other regular improve. In the acknowledged case, the worth may rise in the direction of the $18,000 resistance.<\/p>\n<p><a href=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-14.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-510715\" src=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-14.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-14.png 1834w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-14-460x212.png 460w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-14-860x396.png 860w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-14-768x354.png 768w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-14-1536x708.png 1536w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-14-750x346.png 750w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-14-1140x525.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>The subsequent main resistance is close to $18,800, above which the worth may acquire tempo for a transfer in the direction of the $19,500 zone within the close to time period.<\/p>\n<h2>Dips Limited in BTC?<\/h2>\n<p>If bitcoin fails to climb above the $17,250 resistance, there might be a draw back correction. An quick help on the draw back is close to the $17,000 stage. The subsequent main help is close to the $16,950 zone and the development line.<\/p>\n<p>The development line is near the 50% Fib retracement stage of the upward transfer from the $16,690 swing low to $17,250 excessive. A draw back break under the development line would possibly name for a transfer in the direction of $16,800. Any extra losses would possibly name for a take a look at of the important thing $16,500 help zone within the close to time period.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now dropping tempo within the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $16,950, adopted by $16,800.<\/p>\n<p>Major Resistance Levels \u2013 $17,250, $17,500 and $18,000.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-clears-17k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin worth was in a position to clear the $17,000 resistance. BTC is consolidating good points and would possibly stay supported above the $16,750 stage. Bitcoin gained tempo and cleared the $16,800 and $17,000 resistance ranges. The worth is buying and selling above $16,800 and the 100 hourly easy shifting common. There is a 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