{"id":14885,"date":"2022-12-21T02:51:16","date_gmt":"2022-12-21T02:51:16","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/12\/21\/bitcoin-price-signals-rejection-and-poised-to-start-another-decline\/"},"modified":"2022-12-21T02:51:16","modified_gmt":"2022-12-21T02:51:16","slug":"bitcoin-price-signals-rejection-and-poised-to-start-another-decline","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/12\/21\/bitcoin-price-signals-rejection-and-poised-to-start-another-decline\/","title":{"rendered":"Bitcoin Price Signals Rejection and Poised To Start Another Decline"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin value is dealing with resistance close to $17,000. BTC might begin one other decline until there&#8217;s a sturdy transfer above the $17,000 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin recovered greater above the $16,800 resistance zone.<\/li>\n<li>The value is buying and selling above $16,800 and the 100 hourly easy shifting common.<\/li>\n<li>There is a rising channel forming with resistance close to $17,000 on the hourly chart of the BTC\/USD pair (information feed from Kraken).<\/li>\n<li>The pair might resume its decline until there&#8217;s a shut above the $17,000 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Resistance<\/h2>\n<p>Bitcoin value discovered assist close to the $16,250 zone. BTC traded as little as $16,260 and began a <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-vulnerable-below-17k\/\" target=\"_blank\" rel=\"noopener\">recovery wave<\/a>. There was a transparent transfer above the $16,500 and $16,600 ranges.<\/p>\n<p>The bulls have been in a position to push the worth above the $16,800 resistance and the 100 hourly easy shifting common. The value even spiked above the $17,000 resistance, however upsides have been restricted. A excessive was fashioned close to $17,067 and the worth is now buying and selling in a spread.<\/p>\n<p>Bitcoin value declined under the 23.6% Fib retracement stage of the upward transfer from the $16,260 swing low to $17,067 excessive. It is now buying and selling above $16,800 and the <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-16-5k\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>.<\/p>\n<p>There can also be a rising channel forming with resistance close to $17,000 on the hourly chart of the BTC\/USD pair. On the upside, a right away resistance is close to the $17,000 zone. The first main resistance is close to the $17,200 zone. A transparent transfer above the $17,200 resistance would possibly name for a transfer in direction of the $17,500 resistance.<\/p>\n<p><a href=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-18.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-513158\" src=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-18.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-18.png 1834w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-18-460x212.png 460w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-18-860x396.png 860w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-18-768x354.png 768w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-18-1536x708.png 1536w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-18-750x346.png 750w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-18-1140x525.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>The subsequent main resistance is close to $18,000, above which the worth would possibly achieve tempo and rise in direction of the $18,450 resistance zone within the coming classes.<\/p>\n<h2>Fresh Decline in BTC?<\/h2>\n<p>If bitcoin fails to clear the $17,000 resistance, there could possibly be a recent decline. An quick assist on the draw back is close to the $16,800 stage and the channel pattern line.<\/p>\n<p>The subsequent main assist is close to the $16,650 zone. It is near the 50% Fib retracement stage of the upward transfer from the $16,260 swing low to $17,067 excessive. A draw back break under the $16,650 assist would possibly name for a drop in direction of the $16,260 stage. Any extra losses would possibly ship the worth in direction of $16,000.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now shedding 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 $16,800, adopted by $16,650.<\/p>\n<p>Major Resistance Levels \u2013 $17,000, $17,200 and $17,500.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-signals-rejection-17k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin value is dealing with resistance close to $17,000. BTC might begin one other decline until there&#8217;s a sturdy transfer above the $17,000 resistance zone. Bitcoin recovered greater above the $16,800 resistance zone. The value is buying and selling above $16,800 and the 100 hourly easy shifting common. There is a rising channel forming 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