{"id":15408,"date":"2022-12-30T04:17:23","date_gmt":"2022-12-30T04:17:23","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/12\/30\/bitcoin-price-could-end-the-year-further-lower-key-resistance-intact\/"},"modified":"2022-12-30T04:17:24","modified_gmt":"2022-12-30T04:17:24","slug":"bitcoin-price-could-end-the-year-further-lower-key-resistance-intact","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/12\/30\/bitcoin-price-could-end-the-year-further-lower-key-resistance-intact\/","title":{"rendered":"Bitcoin Price Could End The Year Further Lower, Key Resistance Intact"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin worth is struggling to clear the $17,000 resistance. BTC stays at a danger of extra downsides under the $16,000 help zone earlier than the yr finish.<\/em><\/p>\n<ul>\n<li>Bitcoin is exhibiting bearish indicators under 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 was a break above a connecting bearish development line with resistance close to $16,610 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair might resume its decline if it stays under the $17,000 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Resistance<\/h2>\n<p>Bitcoin worth gained tempo under the $16,800 help zone. BTC even <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-grinds-lower-16k-2\/\" target=\"_blank\" rel=\"noopener\">extended its decline<\/a> under the $16,700 stage and the 100 hourly easy shifting common.<\/p>\n<p>The worth traded as little as $16,453 and is presently correcting losses. There was a transfer above the $16,500 and $16,550 ranges. The worth climbed above the 23.6% Fib retracement stage of the latest decline from the $16,960 swing excessive to $16,453 low.<\/p>\n<p>There was additionally a break above a connecting bearish development line with resistance close to $16,610 on the hourly chart of the BTC\/USD pair. However, bitcoin worth is now buying and selling under $16,700 and the <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-crucial-range-17k\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>.<\/p>\n<p>On the upside, a right away resistance is close to the $16,650 stage. The first main resistance is close to the $16,700 zone and the 100 hourly SMA. It coincides with the 50% Fib retracement stage of the latest decline from the $16,960 swing excessive to $16,453 low.<\/p>\n<p><a href=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-26.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-514208\" src=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-26.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-26.png 1834w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-26-460x212.png 460w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-26-860x396.png 860w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-26-768x354.png 768w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-26-1536x708.png 1536w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-26-750x346.png 750w, https:\/\/newsbtc.com\/wp-content\/uploads\/2022\/12\/Bitcoin-26-1140x525.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 key breakout zone continues to be close to the $17,000 stage. A transparent transfer above the $17,000 resistance would possibly begin a gentle improve within the close to time period. The subsequent main resistance is close to $17,500, above which the value rise in the direction of the $18,000 resistance zone.<\/p>\n<h2>Fresh Decline in BTC?<\/h2>\n<p>If bitcoin fails to begin a restoration wave above the $16,700 resistance, it might begin one other decline. An quick help on the draw back is close to the $16,450 stage or the latest low.<\/p>\n<p>The subsequent main help is close to the $16,250 stage. A transparent transfer under the $16,250 help would possibly spark a transfer in the direction of the $16,000 stage. Any extra losses would possibly ship the value 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 $16,450, adopted by $16,250.<\/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-further-lower-16k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin worth is struggling to clear the $17,000 resistance. BTC stays at a danger of extra downsides under the $16,000 help zone earlier than the yr finish. Bitcoin is exhibiting bearish indicators under 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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