{"id":510234,"date":"2022-11-28T03:18:55","date_gmt":"2022-11-28T03:18:55","guid":{"rendered":"https:\/\/uniquehot.com\/?p=510234"},"modified":"2024-06-11T08:04:38","modified_gmt":"2024-06-11T08:04:38","slug":"bitcoin-price-prediction-fresh-drop-16k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-prediction-fresh-drop-16k\/","title":{"rendered":"Bitcoin Price Prediction: This Scenario Will Trigger A Fresh Drop"},"content":{"rendered":"
[vc_row][vc_column][vc_column_text]Bitcoin price struggled to clear the $16,800 resistance. BTC is moving lower and there is a risk of more losses below the $16,000 support zone.<\/em><\/p>\n Bitcoin price attempted an upside break<\/a> above the $16,800 resistance zone. BTC struggled to gain pace for a move above the $16,800 resistance and formed a double top pattern.<\/p>\n There was a slow and steady decline from the $16,791 high. There was a move below the $16,500 and $16,400 levels. The bears were able to push the price below the 23.6% Fib retracement level of the upward move from the $15,470 swing low to $16,790 high.<\/p>\n Bitcoin price<\/a> is now trading below $16,500 and the 100 hourly simple moving average<\/a>. There is also a major bearish trend line forming with resistance near $16,550 on the hourly chart of the BTC\/USD pair.<\/p>\n The price is now consolidating near the 50% Fib retracement level of the upward move from the $15,470 swing low to $16,790 high. On the upside, an immediate resistance is near the $16,300 level.<\/p>\n <\/a><\/p>\n The first major resistance is near the $16,500 zone, the 100 hourly simple moving average, and the highlighted bearish trend line. A successful move above the $16,500 resistance might send the price further higher. The next major resistance is near $16,800, above which the price could gain pace for a move towards the $17,500 zone.<\/p>\n If bitcoin fails to climb above the $16,500 resistance, it could continue to move down. An immediate support on the downside is near the $16,100 level.<\/p>\n The next major support is near the $16,000 zone, below which the price might gain bearish momentum. In the stated case, the price might drop towards the $15,500 support zone.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n Major Support Levels \u2013 $16,100, followed by $16,000.<\/p>\n Major Resistance Levels \u2013 $16,500<\/em>, $16,800 and $17,000.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":" [vc_row][vc_column][vc_column_text]Bitcoin price struggled to clear the $16,800 resistance. BTC is moving lower and there is a risk of more losses below the $16,000 support zone. Bitcoin attempted an upside break above the $16,800 resistance, but failed. The price is trading below $16,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $16,550 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to decline if it breaks the $16,000 support zone. Bitcoin Price Faces Rejection Bitcoin price attempted an upside break above the $16,800 resistance zone. BTC struggled to gain pace for a move above the $16,800 resistance and formed a double top pattern. There was a slow and steady decline from the $16,791 high. There was a move below the $16,500 and $16,400 levels. The bears were able to push the price below the 23.6% Fib retracement level of the upward move from the $15,470 swing low to $16,790 high. Bitcoin price is now trading below $16,500 and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $16,550 on the hourly chart of the BTC\/USD pair. The price is now consolidating near the 50% Fib retracement level of the upward move from the $15,470 swing low to $16,790 high. On the upside, an immediate resistance is near the $16,300 level. Source: BTCUSD on TradingView.com The first major resistance is near the $16,500 zone, the 100 hourly simple moving average, and the highlighted bearish trend line. A successful move above the $16,500 resistance might send the price further higher. The next major resistance is near $16,800, above which the price could gain pace for a move towards the $17,500 zone. More Losses in BTC? If bitcoin fails to climb above the $16,500 resistance, it could continue to move down. An immediate support on the downside is near the $16,100 level. The next major support is near the $16,000 zone, below which the price might gain bearish momentum. In the stated case, the price might drop towards the $15,500 support zone. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $16,100, followed by $16,000. Major Resistance Levels \u2013 $16,500, $16,800 and $17,000.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"author":67,"featured_media":461535,"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-510234","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":"\n\n
Bitcoin Price Faces Rejection<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n