{"id":14981,"date":"2022-12-22T03:19:40","date_gmt":"2022-12-22T03:19:40","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/12\/22\/bitcoin-price-recovery-could-soon-fade-if-btc-fails-to-surpass-17-2k\/"},"modified":"2022-12-22T03:19:41","modified_gmt":"2022-12-22T03:19:41","slug":"bitcoin-price-recovery-could-soon-fade-if-btc-fails-to-surpass-17-2k","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/12\/22\/bitcoin-price-recovery-could-soon-fade-if-btc-fails-to-surpass-17-2k\/","title":{"rendered":"Bitcoin Price Recovery Could Soon Fade If BTC Fails To Surpass $17.2K"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin value remains to be struggling beneath $17,000. BTC stays at a danger of a recent decline until there&#8217;s a clear transfer above the $17,200 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is dealing with a powerful resistance close to $17,000 and $17,200.<\/li>\n<li>The value is buying and selling above $16,800 and the 100 hourly easy transferring common.<\/li>\n<li>There is a brand new declining channel forming with resistance close to $16,900 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair might try a restoration wave if there&#8217;s a clear transfer above the $17,200 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Struggle Continues<\/h2>\n<p><a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-signals-rejection-17k\/\" target=\"_blank\" rel=\"noopener\">Bitcoin price started an upside correction<\/a> from the $16,250 zone. BTC managed to get better a couple of factors and was in a position to settle above the $16,600 stage.<\/p>\n<p>There was a transparent transfer above the $16,800 resistance and the 100 hourly easy transferring common. The value even tried a rise above the $17,000 resistance, however the bears had been energetic. A excessive was fashioned close to $17,067 and the value is consolidating in a variety.<\/p>\n<p>There was a minor decline beneath the 23.6% Fib retracement stage of the upward wave from the $16,261 swing low to $17,067 excessive. Bitcoin value is now buying and selling above $16,800 and the 100 hourly easy transferring common.<\/p>\n<p>On the upside, a direct resistance is close to the $16,900 zone. There can be a brand new declining channel forming with resistance close to $16,900 on the hourly chart of the BTC\/USD pair. The <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-vulnerable-below-17k\/\" target=\"_blank\" rel=\"noopener\">first major resistance<\/a> is close to the $17,000 zone.<\/p>\n<p><a href=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-19.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-513317\" src=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-19.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-19.png 1834w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-19-460x212.png 460w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-19-860x396.png 860w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-19-768x354.png 768w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-19-1536x708.png 1536w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-19-750x346.png 750w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-19-1140x525.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 primary hurdle appears to be forming close to the $17,200 and $17,250 ranges. A transparent transfer above the $17,250 resistance may name for a transfer in direction of the $17,500 resistance. The subsequent main resistance is close to $18,000, above which the value climb in direction of the $18,450 resistance zone.<\/p>\n<h2>Fresh Drop in BTC?<\/h2>\n<p>If bitcoin fails to clear the $17,200 resistance, there may very well be a recent drop. An fast assist on the draw back is close to the $16,700 stage and the channel pattern line.<\/p>\n<p>The subsequent main assist is close to the $16,625 stage or the 50% Fib retracement stage of the upward wave from the $16,261 swing low to $17,067 excessive. A draw back break beneath the $16,625 assist may name for a transfer in direction of the $16,370 stage. Any extra losses may ship the value in direction of $16,000.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining 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 $16,700, adopted by $16,370.<\/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-recovery-fade-17-2k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin value remains to be struggling beneath $17,000. BTC stays at a danger of a recent decline until there&#8217;s a clear transfer above the $17,200 resistance zone. Bitcoin is dealing with a powerful resistance close to $17,000 and $17,200. The value is buying and selling above $16,800 and the 100 hourly easy transferring common. 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