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{"id":509793,"date":"2022-11-23T02:22:08","date_gmt":"2022-11-23T02:22:08","guid":{"rendered":"https:\/\/uniquehot.com\/?p=509793"},"modified":"2024-06-11T11:19:49","modified_gmt":"2024-06-11T11:19:49","slug":"bitcoin-price-recovery-capped-16-5k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-recovery-capped-16-5k\/","title":{"rendered":"Bitcoin Price Recovery Remains Capped, Why 100 SMA Is The Key"},"content":{"rendered":"

Bitcoin price started an upside correction from $15,500. BTC is now facing a strong resistance near the $16,300 zone and the 100 hourly SMA.<\/em><\/p>\n

\n
Bitcoin found support near $15,500 and started an upside correction.<\/li>\n
The price is trading below $16,300 and the 100 hourly simple moving average.<\/li>\n
There is a crucial bearish trend line forming with resistance near $16,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could continue to rise if it clears the $16,300 level and the 100 hourly SMA.<\/li>\n<\/ul>\n
Bitcoin Price Eyes Recovery<\/h2>\n
Bitcoin price extended its decline<\/a> below the $16,000 support level. BTC even spiked below the $15,800 support level, but the bulls were active near the $15,500 level.<\/p>\n
A low was formed near $15,470 and the price started an upside correction. There was a move above the $15,800 and $16,000 resistance levels. The bulls were able to push the price above the 50% Fib retracement level of the key decline from the $16,795 swing high to $15,470 low.<\/p>\n
Bitcoin price is now trading below $16,300 and the 100 hourly simple moving average<\/a>. There is also a crucial bearish trend line forming with resistance near $16,200 on the hourly chart of the BTC\/USD pair.<\/p>\n
On the upside, an immediate resistance is near the $16,200 level. The first major resistance is near the $16,300 zone and the 100 hourly simple moving average. It is close to the 61.8% Fib retracement level of the key decline from the $16,795 swing high to $15,470 low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
The price must clear the trend line resistance and then $16,300 to start a decent recovery wave. The next major resistance is near $16,500, above which the price could gain pace for a move towards the $17,000 zone.<\/p>\n
Fresh Decline in BTC?<\/h2>\n
If bitcoin fails to recover above the $16,300 resistance zone, it could start another decline. An immediate support on the downside is near the $15,900 level.<\/p>\n
The next major support is near the $15,550 zone, below which the price might even struggle to stay above $15,500. A clear move below the $15,500 support might send the price towards the $14,000 support zone.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing 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 $15,900, followed by $15,500.<\/p>\n
Major Resistance Levels \u2013 $16,200, $16,300 and $17,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started an upside correction from $15,500. BTC is now facing a strong resistance near the $16,300 zone and the 100 hourly SMA. Bitcoin found support near $15,500 and started an upside correction. The price is trading below $16,300 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $16,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to rise if it clears the $16,300 level and the 100 hourly SMA. Bitcoin Price Eyes Recovery Bitcoin price extended its decline below the $16,000 support level. BTC even spiked below the $15,800 support level, but the bulls were active near the $15,500 level. A low was formed near $15,470 and the price started an upside correction. There was a move above the $15,800 and $16,000 resistance levels. The bulls were able to push the price above the 50% Fib retracement level of the key decline from the $16,795 swing high to $15,470 low. Bitcoin price is now trading below $16,300 and the 100 hourly simple moving average. There is also a crucial bearish trend line forming with resistance near $16,200 on the hourly chart of the BTC\/USD pair. On the upside, an immediate resistance is near the $16,200 level. The first major resistance is near the $16,300 zone and the 100 hourly simple moving average. It is close to the 61.8% Fib retracement level of the key decline from the $16,795 swing high to $15,470 low. Source: BTCUSD on TradingView.com The price must clear the trend line resistance and then $16,300 to start a decent recovery wave. The next major resistance is near $16,500, above which the price could gain pace for a move towards the $17,000 zone. Fresh Decline in BTC? If bitcoin fails to recover above the $16,300 resistance zone, it could start another decline. An immediate support on the downside is near the $15,900 level. The next major support is near the $15,550 zone, below which the price might even struggle to stay above $15,500. A clear move below the $15,500 support might send the price towards the $14,000 support zone. Technical indicators: Hourly MACD \u2013 The MACD is now losing 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 $15,900, followed by $15,500. Major Resistance Levels \u2013 $16,200, $16,300 and $17,000.<\/p>\n","protected":false},"author":67,"featured_media":463643,"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-509793","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 Remains Capped, Why 100 SMA Is The Key<\/title>\n<meta name=\"description\" content=\"Bitcoin price started an upside correction from $15,500. 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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 Recovery Remains Capped, Why 100 SMA Is The Key","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-recovery-capped-16-5k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-recovery-capped-16-5k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_609209402.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_609209402.jpg?fit=1000%2C554"},"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","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2022-11-23T02:22:08Z","datePublished":"2022-11-23T02:22:08Z","dateModified":"2024-06-11T11:19:49Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Recovery Remains Capped, Why 100 SMA Is The Key\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-recovery-capped-16-5k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-recovery-capped-16-5k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_609209402.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_609209402.jpg?fit=1000%2C554\"},\"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\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2022-11-23T02:22:08Z\",\"datePublished\":\"2022-11-23T02:22:08Z\",\"dateModified\":\"2024-06-11T11:19:49Z\"}<\/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_609209402.jpg?fit=1000%2C554","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/509793","targetHints":{"allow":["GET"]}}],"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=509793"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/509793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/463643"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=509793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=509793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=509793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}