{"id":14286,"date":"2022-12-12T03:13:30","date_gmt":"2022-12-12T03:13:30","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/12\/12\/bitcoin-price-stuck-in-key-range-why-the-bulls-remain-in-action\/"},"modified":"2022-12-12T03:13:30","modified_gmt":"2022-12-12T03:13:30","slug":"bitcoin-price-stuck-in-key-range-why-the-bulls-remain-in-action","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/12\/12\/bitcoin-price-stuck-in-key-range-why-the-bulls-remain-in-action\/","title":{"rendered":"Bitcoin Price Stuck In Key Range, Why The Bulls Remain In Action"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin worth didn&#8217;t clear the $17,300 zone and corrected decrease. BTC may discover a sturdy shopping for curiosity close to $16,900 or $16,700 within the coming classes.<\/em><\/p>\n<ul>\n<li>Bitcoin failed to achieve tempo for a transfer above $17,300 and $17,450.<\/li>\n<li>The worth is buying and selling under $17,000 and the 100 hourly easy shifting common.<\/li>\n<li>There is a key bearish development line forming with resistance close to $17,150 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair may bounce again if it stays above the $16,900 and $16,700 assist ranges.<\/li>\n<\/ul>\n<h2>Bitcoin Price Remains Supported<\/h2>\n<p>Bitcoin worth was capable of clear the <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-regains-strength-17k\/\" target=\"_blank\" rel=\"noopener\">$17,000 resistance zone<\/a>. However, the worth failed to achieve tempo for a transfer above $17,300 and $17,450. A excessive was fashioned close to $17,292 and the worth began a contemporary decline.<\/p>\n<p>There was a transparent transfer under the $17,100 and $17,000 ranges. The worth declined under the 50% Fib retracement stage of the upward transfer from the $16,700 swing low to $17,292 excessive. Bitcoin worth is now buying and selling under $17,000 and the <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-downtrend-17k\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>.<\/p>\n<p>There can also be a key bearish development line forming with resistance close to $17,150 on the hourly chart of the BTC\/USD pair. The pair is now approaching the 61.8% Fib retracement stage of the upward transfer from the $16,700 swing low to $17,292 excessive.<\/p>\n<p>On the upside, an instantaneous resistance is close to the $17,050 stage. The first main resistance is close to the $17,150 zone and the development line, above which the worth could maybe begin a contemporary improve.<\/p>\n<p><a href=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-7.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-512037\" src=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-7.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-7.png 1834w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-7-460x212.png 460w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-7-860x396.png 860w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-7-768x354.png 768w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-7-1536x708.png 1536w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-7-750x346.png 750w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-7-1140x525.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 may rise in direction of the $17,300 resistance. The subsequent main resistance is close to $17,450, above which the worth rise in direction of the $18,000 zone within the close to time period.<\/p>\n<h2>Downside Break in BTC?<\/h2>\n<p>If bitcoin fails to clear the $17,150 resistance, there might be extra losses. An rapid assist on the draw back is close to the $16,900 stage.<\/p>\n<p>The subsequent main assist is close to the $16,700 zone or the final swing low. A draw back break under the $16,700 assist would possibly name a drop in direction of $16,500. Any extra losses would possibly push the worth in direction of the $16,200 zone within the close to time period.<\/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 within the oversold zone.<\/p>\n<p>Major Support Levels \u2013 $16,900, adopted by $16,700.<\/p>\n<p>Major Resistance Levels \u2013 $17,050, $17,150 and $17,450.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-stuck-17k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin worth didn&#8217;t clear the $17,300 zone and corrected decrease. BTC may discover a sturdy shopping for curiosity close to $16,900 or $16,700 within the coming classes. Bitcoin failed to achieve tempo for a transfer above $17,300 and $17,450. The worth is buying and selling under $17,000 and the 100 hourly easy shifting common. 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