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{"id":513702,"date":"2022-12-25T22:19:57","date_gmt":"2022-12-26T03:19:57","guid":{"rendered":"https:\/\/uniquehot.com\/?p=513702"},"modified":"2024-06-11T14:35:12","modified_gmt":"2024-06-11T14:35:12","slug":"bitcoin-price-larger-recovery-17k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-larger-recovery-17k\/","title":{"rendered":"Bitcoin Price Close Above $17.5K Could Spark Larger Degree Recovery"},"content":{"rendered":"

Bitcoin price is attempting an upside break above $17,000. BTC could start a steady recovery if it clears the $17,000 and $17,200 resistance levels.<\/em><\/p>\n

\n
Bitcoin is attempting an upside break above the $17,000 and $17,200 levels.<\/li>\n
The price is trading above $16,800 and the 100 hourly simple moving average.<\/li>\n
There was a break above a key bearish trend line with resistance near $16,820 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could attempt a fresh increase if there is a clear move above the $17,200 resistance zone.<\/li>\n<\/ul>\n
Bitcoin Price Eyes Upside Break<\/h2>\n
Bitcoin price managed to stay above the $16,550 zone. A base was formed and the price started a fresh increase above the $16,700 resistance zone. BTC even climbed above the $16,800 resistance and the 100 hourly simple moving average<\/a>.<\/p>\n
There was a clear move above the 50% Fib retracement level of the downward move from the $17,067 swing high to $16,565 low. Besides, there was a break above a key bearish trend line with resistance near $16,820 on the hourly chart of the BTC\/USD pair.<\/p>\n
Bitcoin price is now trading above $16,800 and the 100 hourly simple moving average. It is also trading above the 61.8% Fib retracement level of the downward move from the $17,067 swing high to $16,565 low.<\/p>\n
On the upside, an immediate resistance is near the $17,000 zone<\/a>. The first major resistance is near the $17,200 zone. A clear move above the $17,200 resistance might start a steady recovery wave.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
The next major resistance is near $17,500, above which the price climb towards the $18,000 resistance zone. Any more gains might send the pair towards the $18,500 resistance zone.<\/p>\n
Fresh Drop in BTC?<\/h2>\n
If bitcoin fails to clear the $17,200 resistance, there could be a fresh downward move. An immediate support on the downside is near the $16,800 level and the 100 hourly SMA<\/p>\n
The next major support is near the $16,680 level. A downside break below the $16,680 support might call for a move towards the $16,550 level. Any more losses might send the price towards $16,350.<\/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 $16,800, followed by $16,550.<\/p>\n
Major Resistance Levels \u2013 $17,000, $17,200 and $17,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is attempting an upside break above $17,000. BTC could start a steady recovery if it clears the $17,000 and $17,200 resistance levels. Bitcoin is attempting an upside break above the $17,000 and $17,200 levels. The price is trading above $16,800 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $16,820 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could attempt a fresh increase if there is a clear move above the $17,200 resistance zone. Bitcoin Price Eyes Upside Break Bitcoin price managed to stay above the $16,550 zone. A base was formed and the price started a fresh increase above the $16,700 resistance zone. BTC even climbed above the $16,800 resistance and the 100 hourly simple moving average. There was a clear move above the 50% Fib retracement level of the downward move from the $17,067 swing high to $16,565 low. Besides, there was a break above a key bearish trend line with resistance near $16,820 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading above $16,800 and the 100 hourly simple moving average. It is also trading above the 61.8% Fib retracement level of the downward move from the $17,067 swing high to $16,565 low. On the upside, an immediate resistance is near the $17,000 zone. The first major resistance is near the $17,200 zone. A clear move above the $17,200 resistance might start a steady recovery wave. Source: BTCUSD on TradingView.com The next major resistance is near $17,500, above which the price climb towards the $18,000 resistance zone. Any more gains might send the pair towards the $18,500 resistance zone. Fresh Drop in BTC? If bitcoin fails to clear the $17,200 resistance, there could be a fresh downward move. An immediate support on the downside is near the $16,800 level and the 100 hourly SMA The next major support is near the $16,680 level. A downside break below the $16,680 support might call for a move towards the $16,550 level. Any more losses might send the price towards $16,350. 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 $16,800, followed by $16,550. Major Resistance Levels \u2013 $17,000, $17,200 and $17,500.<\/p>\n","protected":false},"author":67,"featured_media":460236,"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-513702","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 Close Above $17.5K Could Spark Larger Degree Recovery<\/title>\n<meta name=\"description\" content=\"Bitcoin price is attempting an upside break above $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:\/\/uniquehot.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Close Above $17.5K Could Spark Larger Degree Recovery","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-larger-recovery-17k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-larger-recovery-17k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_456228007.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_456228007.jpg?fit=1000%2C665"},"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":"2022-12-26T03:19:57Z","datePublished":"2022-12-26T03:19:57Z","dateModified":"2024-06-11T14:35:12Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Close Above $17.5K Could Spark Larger Degree Recovery\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-larger-recovery-17k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-larger-recovery-17k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_456228007.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_456228007.jpg?fit=1000%2C665\"},\"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\":\"2022-12-26T03:19:57Z\",\"datePublished\":\"2022-12-26T03:19:57Z\",\"dateModified\":\"2024-06-11T14:35:12Z\"}<\/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\/04\/shutterstock_456228007.jpg?fit=1000%2C665","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/513702"}],"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=513702"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/513702\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/460236"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=513702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=513702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=513702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}