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{"id":508452,"date":"2022-11-15T02:53:23","date_gmt":"2022-11-15T02:53:23","guid":{"rendered":"https:\/\/uniquehot.com\/?p=508452"},"modified":"2024-06-11T08:59:48","modified_gmt":"2024-06-11T08:59:48","slug":"bitcoin-price-consolidates-17k-key","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-consolidates-17k-key\/","title":{"rendered":"Bitcoin Price Consolidates, Why 100 SMA Could Start A Decent Recovery"},"content":{"rendered":"

Bitcoin price remained stable above the $16,000 support zone. BTC could start a decent recovery wave if there is a clear move above the 100 hourly SMA.<\/em><\/p>\n

\n
Bitcoin remained well bid above the $16,000 and $15,800 support levels.<\/li>\n
The price is trading below $17,000 and the 100 hourly simple moving average.<\/li>\n
There is a major bearish trend line forming with resistance near $16,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start a recovery wave if it clears the $17,000 resistance zone.<\/li>\n<\/ul>\n
Bitcoin Price Faces Hurdles<\/h2>\n
Bitcoin price reacted to the downside once again<\/a> after it failed to clear the $17,200 zone. BTC declined below the $17,000 and $16,500 levels. It even spiked below the $16,200 level.<\/p>\n
However, the bulls were active above the $16,000 support zone. A low was formed near $16,164 and the price started a slow increase. There was a move above the $16,400 and $16,500 levels. The price cleared the 50% Fib retracement level of the recent decline from the $17,149 swing high to $16,154 low.<\/p>\n
Bitcoin price is now trading below $17,000 and the 100 hourly simple moving average<\/a>. It is testing the 61.8% Fib retracement level of the recent decline from the $17,149 swing high to $16,154 low.<\/p>\n
On the upside, an immediate resistance is near the $16,800 level. There is also a major bearish trend line forming with resistance near $16,800 on the hourly chart of the BTC\/USD pair, and the 100 hourly simple moving average. A clear move above the $17,000 resistance might push the price further higher.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
The next major resistance is near $17,200, above which the price could test the $17,750 zone. Any more gains might send the price towards the $18,000 resistance zone.<\/p>\n
Fresh Decline in BTC?<\/h2>\n
If bitcoin fails to start a recovery wave above the $17,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $16,400 level.<\/p>\n
The next major support is near the $16,150 zone. A clear move below the $16,150 support might push the price further lower. In this case, the price may perhaps decline towards the $15,550 support zone.<\/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 $16,150, followed by $15,550.<\/p>\n
Major Resistance Levels \u2013 $16,800, $17,000 and $17,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price remained stable above the $16,000 support zone. BTC could start a decent recovery wave if there is a clear move above the 100 hourly SMA. Bitcoin remained well bid above the $16,000 and $15,800 support levels. The price is trading below $17,000 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $16,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a recovery wave if it clears the $17,000 resistance zone. Bitcoin Price Faces Hurdles Bitcoin price reacted to the downside once again after it failed to clear the $17,200 zone. BTC declined below the $17,000 and $16,500 levels. It even spiked below the $16,200 level. However, the bulls were active above the $16,000 support zone. A low was formed near $16,164 and the price started a slow increase. There was a move above the $16,400 and $16,500 levels. The price cleared the 50% Fib retracement level of the recent decline from the $17,149 swing high to $16,154 low. Bitcoin price is now trading below $17,000 and the 100 hourly simple moving average. It is testing the 61.8% Fib retracement level of the recent decline from the $17,149 swing high to $16,154 low. On the upside, an immediate resistance is near the $16,800 level. There is also a major bearish trend line forming with resistance near $16,800 on the hourly chart of the BTC\/USD pair, and the 100 hourly simple moving average. A clear move above the $17,000 resistance might push the price further higher. Source: BTCUSD on TradingView.com The next major resistance is near $17,200, above which the price could test the $17,750 zone. Any more gains might send the price towards the $18,000 resistance zone. Fresh Decline in BTC? If bitcoin fails to start a recovery wave above the $17,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $16,400 level. The next major support is near the $16,150 zone. A clear move below the $16,150 support might push the price further lower. In this case, the price may perhaps decline towards the $15,550 support zone. 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 $16,150, followed by $15,550. Major Resistance Levels \u2013 $16,800, $17,000 and $17,500.<\/p>\n","protected":false},"author":67,"featured_media":463274,"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":[428,1144,78790,76835],"class_list":["post-508452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Consolidates, Why 100 SMA Could Start A Decent Recovery<\/title>\n<meta name=\"description\" content=\"Bitcoin price remained stable above the $16,000 support zone. 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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:\/\/uniquehot.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Consolidates, Why 100 SMA Could Start A Decent Recovery","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-consolidates-17k-key\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-consolidates-17k-key\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_614141174.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_614141174.jpg?fit=1000%2C740"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2022-11-15T02:53:23Z","datePublished":"2022-11-15T02:53:23Z","dateModified":"2024-06-11T08:59:48Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Consolidates, Why 100 SMA Could Start A Decent Recovery\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-consolidates-17k-key\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-consolidates-17k-key\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_614141174.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_614141174.jpg?fit=1000%2C740\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2022-11-15T02:53:23Z\",\"datePublished\":\"2022-11-15T02:53:23Z\",\"dateModified\":\"2024-06-11T08:59:48Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_614141174.jpg?fit=1000%2C740","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/508452"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=508452"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/508452\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/463274"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=508452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=508452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=508452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}