{"id":14792,"date":"2022-12-20T02:36:42","date_gmt":"2022-12-20T02:36:42","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/12\/20\/bitcoin-price-topside-bias-vulnerable-if-it-continues-to-struggle-below-17k\/"},"modified":"2022-12-20T02:36:42","modified_gmt":"2022-12-20T02:36:42","slug":"bitcoin-price-topside-bias-vulnerable-if-it-continues-to-struggle-below-17k","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/12\/20\/bitcoin-price-topside-bias-vulnerable-if-it-continues-to-struggle-below-17k\/","title":{"rendered":"Bitcoin Price Topside Bias Vulnerable If It Continues To Struggle Below $17K"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin worth declined additional and traded under $16,500. BTC is correcting losses, but it surely may battle to climb above the $16,700 and $17,000 resistance ranges.<\/em><\/p>\n<ul>\n<li>Bitcoin prolonged its decline under the $17,000 and $16,500 assist ranges.<\/li>\n<li>The worth is buying and selling under $16,800 and the 100 hourly easy transferring common.<\/li>\n<li>There is a connecting bearish development line forming with resistance close to $16,650 on the hourly chart of the BTC\/USD pair (information feed from Kraken).<\/li>\n<li>The pair may resume its decline except there&#8217;s a clear transfer above $17,000 and the 100 hourly SMA.<\/li>\n<\/ul>\n<h2>Bitcoin Price Signals Bearish Bias<\/h2>\n<p>Bitcoin worth settled under the $17,200 assist stage to maneuver right into a <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-16-5k\/\" target=\"_blank\" rel=\"noopener\">bearish zone<\/a>. BTC gained tempo under the $17,000 and $16,800 assist ranges. The worth even declined under the $16,500 assist and settled under the 100 hourly easy transferring common.<\/p>\n<p>It examined the $16,200 zone. A low is shaped close to $16,260 and the worth is now correcting losses. There was a minor improve above the $16,500 resistance zone. The worth climbed above the 50% Fib retracement stage of the latest drop from the $16,865 swing excessive to $16,260 low.<\/p>\n<p>Bitcoin worth is now buying and selling under $16,800 and the <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-prediction-btc-16k\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>. On the upside, an instantaneous resistance is close to the $16,650 zone. There can also be a connecting bearish development line forming with resistance close to $16,650 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The development line is close to the 61.8% Fib retracement stage of the latest drop from the $16,865 swing excessive to $16,260 low. The first main resistance is close to the $16,800 zone and the 100 hourly easy transferring common.<\/p>\n<p><a href=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-16.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-512993\" src=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-16.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-16.png 1834w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-16-460x212.png 460w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-16-860x396.png 860w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-16-768x354.png 768w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-16-1536x708.png 1536w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-16-750x346.png 750w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-16-1140x525.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=\"nofollow noopener\">BTCUSD on TradingView.com<\/a><\/p>\n<p>A transparent transfer above the $16,800 resistance would possibly name for a transfer in the direction of the $17,000 resistance. The subsequent main resistance is close to $17,240, above which the worth would possibly achieve tempo and rise in the direction of the $18,000 stage.<\/p>\n<h2>More Downsides in BTC?<\/h2>\n<p>If bitcoin fails to clear the $16,800 resistance, there may very well be extra downsides. An instant assist on the draw back is close to the $16,400 stage.<\/p>\n<p>The subsequent main assist is close to the $16,250 zone. A draw back break under the $16,250 assist would possibly name for a drop in the direction of the $16,000 stage. Any extra losses would possibly ship the worth in the direction of $15,500.<\/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 close to the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $16,250, adopted by $16,000.<\/p>\n<p>Major Resistance Levels \u2013 $16,650, $16,800 and $17,000.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-vulnerable-below-17k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin worth declined additional and traded under $16,500. BTC is correcting losses, but it surely may battle to climb above the $16,700 and $17,000 resistance ranges. Bitcoin prolonged its decline under the $17,000 and $16,500 assist ranges. The worth is buying and selling under $16,800 and the 100 hourly easy transferring common. There is 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