{"id":15346,"date":"2022-12-29T06:23:54","date_gmt":"2022-12-29T06:23:54","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/12\/29\/bitcoin-price-grinds-lower-more-losses-seem-imminent\/"},"modified":"2022-12-29T06:23:54","modified_gmt":"2022-12-29T06:23:54","slug":"bitcoin-price-grinds-lower-more-losses-seem-imminent","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/12\/29\/bitcoin-price-grinds-lower-more-losses-seem-imminent\/","title":{"rendered":"Bitcoin Price Grinds Lower, More Losses Seem Imminent"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin worth is slowly shifting decrease from the $17,000 resistance. BTC might proceed to maneuver down in direction of the $16,000 help zone.<\/em><\/p>\n<ul>\n<li>Bitcoin began a recent decline after it did not clear the $17,000 and $17,200 resistance ranges.<\/li>\n<li>The worth is buying and selling under $16,700 and the 100 hourly easy shifting common.<\/li>\n<li>There is a key bearish development lie forming with resistance close to $16,600 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair might drop additional if there&#8217;s a clear transfer under the $16,500 help zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Extends Losses<\/h2>\n<p>Bitcoin worth failed to achieve tempo above the <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-crucial-range-17k\/\" target=\"_blank\" rel=\"noopener\">$17,000 resistance zone<\/a>. BTC began a recent decline under the $16,800 help zone to maneuver right into a bearish zone.<\/p>\n<p>The worth even traded under the $16,650 help zone and the 100 hourly easy shifting common. It traded as little as $16,453 and is presently consolidating losses. The worth is clearly buying and selling in a bearish zone under $16,700 and the 100 hourly easy shifting common.<\/p>\n<p>Bitcoin worth is now dealing with resistance close to the $16,580 stage. It is near the 23.6% Fib retracement stage of the downward transfer from the $16,961 swing excessive to $16,453 low. There can also be a key bearish development lie forming with resistance close to $16,600 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The first main resistance is close to the $16,700 zone and the <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-keeps-fighting-17k\/\" target=\"_blank\" rel=\"noopener\">100 hourly SMA<\/a>. It is near the 50% key bearish development lie forming with resistance close to $16,600 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><a href=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-514088\" src=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25.png 1834w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25-460x212.png 460w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25-860x396.png 860w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25-768x354.png 768w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25-1536x708.png 1536w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25-750x346.png 750w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25-1140x525.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 most important hurdle remains to be close to the $17,000 stage. A correct shut above the $17,000 resistance would possibly begin a gradual improve within the close to time period. The subsequent main resistance is close to $17,200, above which the worth rise in direction of the $17,500 resistance zone.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to begin a restoration wave above the $16,700 resistance, it might proceed to maneuver down. An fast help on the draw back is close to the $16,450 stage.<\/p>\n<p>The subsequent main help is close to the $16,200 stage. A draw back break under the $16,200 help would possibly spark a transfer in direction of the $16,000 stage. Any extra losses would possibly ship the worth in direction of $15,550.<\/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 under the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $16,450, adopted by $16,200.<\/p>\n<p>Major Resistance Levels \u2013 $16,700, $17,000 and $17,200.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-grinds-lower-16k-2\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin worth is slowly shifting decrease from the $17,000 resistance. BTC might proceed to maneuver down in direction of the $16,000 help zone. Bitcoin began a recent decline after it did not clear the $17,000 and $17,200 resistance ranges. The worth is buying and selling under $16,700 and the 100 hourly easy shifting common. 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