{"id":13928,"date":"2022-12-06T03:29:25","date_gmt":"2022-12-06T03:29:25","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/12\/06\/bitcoin-price-lacking-momentum-above-17k-btc-holders-are-safe-heres-why\/"},"modified":"2022-12-06T03:29:25","modified_gmt":"2022-12-06T03:29:25","slug":"bitcoin-price-lacking-momentum-above-17k-btc-holders-are-safe-heres-why","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/12\/06\/bitcoin-price-lacking-momentum-above-17k-btc-holders-are-safe-heres-why\/","title":{"rendered":"Bitcoin Price Lacking Momentum Above $17k, BTC Holders Are Safe: Here&#8217;s Why"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin value prolonged its improve and examined the $17,500 resistance. BTC corrected positive aspects, but it surely stays effectively supported above the $16,800 help.<\/em><\/p>\n<ul>\n<li>Bitcoin prolonged its upward transfer above $17,100 and $17,300 resistance ranges.<\/li>\n<li>The value is buying and selling close to $17,000 and the 100 hourly easy transferring common.<\/li>\n<li>There was a break beneath a key bullish development line with help close to $17,050 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair should keep above the $16,800 help to begin a contemporary improve.<\/li>\n<\/ul>\n<h2>Bitcoin Price Remains Supported<\/h2>\n<p>Bitcoin value settled above the <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-key-trend-18k\/\" target=\"_blank\" rel=\"noopener\">$17,000 resistance zone<\/a> and prolonged its improve. BTC was in a position to clear the $17,100 and $17,200 resistance ranges.<\/p>\n<p>The value even spiked above $17,400 and traded near the $17,500 resistance zone. However, the bears have been lively close to the $17,500 resistance zone. A excessive was shaped close to $17,440 and the worth began a draw back correction.<\/p>\n<p>Bitcoin value declined beneath the $17,200 stage and the <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-correction-16-5k\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>. There was a break beneath a key bullish development line with help close to $17,050 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The value traded as little as $16,888 and is at present rising. It is buying and selling close to $17,000 and the 100 hourly easy transferring common. It is buying and selling above the 23.6% Fib retracement stage of the current decline from the $17,440 swing excessive to $16,888 low.<\/p>\n<p>On the upside, a right away resistance is close to the $17,165 stage. It is close to the 50% Fib retracement stage of the current decline from the $17,440 swing excessive to $16,888 low. The first main resistance is close to the $17,250 zone, above which the worth might maybe begin one other regular improve.<\/p>\n<p><a href=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-3.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-511238\" src=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-3.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-3.png 1834w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-3-460x212.png 460w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-3-860x396.png 860w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-3-768x354.png 768w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-3-1536x708.png 1536w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-3-750x346.png 750w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-3-1140x525.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>In the acknowledged case, the worth might rise in direction of the $17,500 resistance. The subsequent main resistance is close to $17,650, above which the worth rise in direction of the $18,000 zone within the close to time period.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to begin a contemporary improve above the $17,165 resistance, there could possibly be extra downsides. An speedy help on the draw back is close to the $16,850 stage.<\/p>\n<p>The subsequent main help is close to the $16,800 zone. A draw back break beneath the $16,800 help may name for a transfer in direction of $16,500. Any extra losses may name for a take a look at of the important thing $16,000 help zone within the close to time period.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now shedding tempo within the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now slightly below the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $16,800, adopted by $16,500.<\/p>\n<p>Major Resistance Levels \u2013 $17,165, $17,250 and $18,000.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-lacking-momentum-17k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin value prolonged its improve and examined the $17,500 resistance. BTC corrected positive aspects, but it surely stays effectively supported above the $16,800 help. Bitcoin prolonged its upward transfer above $17,100 and $17,300 resistance ranges. The value is buying and selling close to $17,000 and the 100 hourly easy transferring common. There was a 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