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{"id":513316,"date":"2022-12-21T22:08:27","date_gmt":"2022-12-22T03:08:27","guid":{"rendered":"https:\/\/ktsl888.com\/?p=513316"},"modified":"2024-06-11T08:08:55","modified_gmt":"2024-06-11T08:08:55","slug":"bitcoin-price-recovery-fade-17-2k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-recovery-fade-17-2k\/","title":{"rendered":"Bitcoin Price Recovery Could Soon Fade If BTC Fails To Surpass $17.2K"},"content":{"rendered":"

Bitcoin price is still struggling below $17,000. BTC remains at a risk of a fresh decline unless there is a clear move above the $17,200 resistance zone.<\/em><\/p>\n

\n
Bitcoin is facing a strong resistance near $17,000 and $17,200.<\/li>\n
The price is trading above $16,800 and the 100 hourly simple moving average.<\/li>\n
There is a new declining channel forming with resistance near $16,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could attempt a recovery wave if there is a clear move above the $17,200 resistance zone.<\/li>\n<\/ul>\n
Bitcoin Price Struggle Continues<\/h2>\n
Bitcoin price started an upside correction<\/a> from the $16,250 zone. BTC managed to recover a few points and was able to settle above the $16,600 level.<\/p>\n
There was a clear move above the $16,800 resistance and the 100 hourly simple moving average. The price even attempted an increase above the $17,000 resistance, but the bears were active. A high was formed near $17,067 and the price is consolidating in a range.<\/p>\n
There was a minor decline below the 23.6% Fib retracement level of the upward wave from the $16,261 swing low to $17,067 high. Bitcoin price is now trading above $16,800 and the 100 hourly simple moving average.<\/p>\n
On the upside, an immediate resistance is near the $16,900 zone. There is also a new declining channel forming with resistance near $16,900 on the hourly chart of the BTC\/USD pair. The first major resistance<\/a> is near the $17,000 zone.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
The main hurdle seems to be forming near the $17,200 and $17,250 levels. A clear move above the $17,250 resistance might call for a move towards the $17,500 resistance. The next major resistance is near $18,000, above which the price climb towards the $18,450 resistance zone.<\/p>\n
Fresh Drop in BTC?<\/h2>\n
If bitcoin fails to clear the $17,200 resistance, there could be a fresh drop. An immediate support on the downside is near the $16,700 level and the channel trend line.<\/p>\n
The next major support is near the $16,625 level or the 50% Fib retracement level of the upward wave from the $16,261 swing low to $17,067 high. A downside break below the $16,625 support might call for a move towards the $16,370 level. Any more losses might send the price towards $16,000.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n
Major Support Levels \u2013 $16,700, followed by $16,370.<\/p>\n
Major Resistance Levels \u2013 $17,000, $17,200 and $17,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is still struggling below $17,000. BTC remains at a risk of a fresh decline unless there is a clear move above the $17,200 resistance zone. Bitcoin is facing a strong resistance near $17,000 and $17,200. The price is trading above $16,800 and the 100 hourly simple moving average. There is a new declining channel forming with resistance near $16,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could attempt a recovery wave if there is a clear move above the $17,200 resistance zone. Bitcoin Price Struggle Continues Bitcoin price started an upside correction from the $16,250 zone. BTC managed to recover a few points and was able to settle above the $16,600 level. There was a clear move above the $16,800 resistance and the 100 hourly simple moving average. The price even attempted an increase above the $17,000 resistance, but the bears were active. A high was formed near $17,067 and the price is consolidating in a range. There was a minor decline below the 23.6% Fib retracement level of the upward wave from the $16,261 swing low to $17,067 high. Bitcoin price is now trading above $16,800 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $16,900 zone. There is also a new declining channel forming with resistance near $16,900 on the hourly chart of the BTC\/USD pair. The first major resistance is near the $17,000 zone. Source: BTCUSD on TradingView.com The main hurdle seems to be forming near the $17,200 and $17,250 levels. A clear move above the $17,250 resistance might call for a move towards the $17,500 resistance. The next major resistance is near $18,000, above which the price climb towards the $18,450 resistance zone. Fresh Drop in BTC? If bitcoin fails to clear the $17,200 resistance, there could be a fresh drop. An immediate support on the downside is near the $16,700 level and the channel trend line. The next major support is near the $16,625 level or the 50% Fib retracement level of the upward wave from the $16,261 swing low to $17,067 high. A downside break below the $16,625 support might call for a move towards the $16,370 level. Any more losses might send the price towards $16,000. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $16,700, followed by $16,370. Major Resistance Levels \u2013 $17,000, $17,200 and $17,500.<\/p>\n","protected":false},"author":67,"featured_media":459185,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1144,78790,76835],"class_list":["post-513316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Recovery Could Soon Fade If BTC Fails To Surpass $17.2K<\/title>\n<meta name=\"description\" content=\"Bitcoin price is still struggling below $17,000. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/ktsl888.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Recovery Could Soon Fade If BTC Fails To Surpass $17.2K","url":"http:\/\/ktsl888.com\/news\/bitcoin-price-recovery-fade-17-2k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-price-recovery-fade-17-2k\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/shutterstock_1043982583.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/shutterstock_1043982583.jpg?fit=1000%2C667"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2022-12-22T03:08:27Z","datePublished":"2022-12-22T03:08:27Z","dateModified":"2024-06-11T08:08:55Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Recovery Could Soon Fade If BTC Fails To Surpass $17.2K\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-price-recovery-fade-17-2k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-price-recovery-fade-17-2k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1043982583.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1043982583.jpg?fit=1000%2C667\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2022-12-22T03:08:27Z\",\"datePublished\":\"2022-12-22T03:08:27Z\",\"dateModified\":\"2024-06-11T08:08:55Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/shutterstock_1043982583.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/513316"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=513316"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/513316\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/459185"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=513316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=513316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=513316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}