BTCUSD on TradingView.com<\/a><\/p>\nThe main barrier is still near the $17,000 level. A clear move above the $17,000 resistance might start a steady recovery wave. The next major resistance is near $17,200, above which the price rise towards the $17,500 resistance zone. Any more gains might spark a move towards the $18,000 resistance zone.<\/p>\n
More Losses in BTC?<\/h2>\n If bitcoin fails to clear the $16,800 resistance, it could continue to move down. An immediate support on the downside is near the $16,550 level.<\/p>\n
The next major support is near the $16,350 level. A downside break below the $16,350 support might send the pair towards the $16,000 level. Any more losses might send the price towards $15,550.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing 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 $16,550, followed by $16,350.<\/p>\n
Major Resistance Levels \u2013 $16,800, $17,000 and $17,200.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is still trading in a range below the $17,000 resistance. BTC could witness a major breakout as we approach the New Year 2023. Bitcoin failed to clear the $17,000 and $17,200 resistance levels. The price is trading below $16,800 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $16,840 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could decline further if there is a clear move below the $16,550 support zone. Bitcoin Price Revisits Support Bitcoin price made another attempt to clear the $17,000 resistance zone. However, BTC struggled to gain pace for a clear move above the $17,000 level. A high was formed near $16,962 before the price started a fresh decline. There was a clear move below the $16,800 support zone and the 100 hourly simple moving average. Besides, there was a break below a major bullish trend line with support near $16,840 on the hourly chart of the BTC\/USD pair. Bitcoin price tested the key $16,550 support zone. A low is formed near $16,561 and the price is now consolidating losses. It tested the 23.6% Fib retracement level of the downward move from the $16,962 swing high to $16,561 low. On the upside, an immediate resistance is near the $16,720 zone. The first major resistance is near the $16,800 zone and the 100 hourly SMA. It is close to the 61.8% Fib retracement level of the downward move from the $16,962 swing high to $16,561 low. Source: BTCUSD on TradingView.com The main barrier is still near the $17,000 level. A clear move above the $17,000 resistance might start a steady recovery wave. The next major resistance is near $17,200, above which the price rise towards the $17,500 resistance zone. Any more gains might spark a move towards the $18,000 resistance zone. More Losses in BTC? If bitcoin fails to clear the $16,800 resistance, it could continue to move down. An immediate support on the downside is near the $16,550 level. The next major support is near the $16,350 level. A downside break below the $16,350 support might send the pair towards the $16,000 level. Any more losses might send the price towards $15,550. Technical indicators: Hourly MACD \u2013 The MACD is now losing 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 $16,550, followed by $16,350. Major Resistance Levels \u2013 $16,800, $17,000 and $17,200.<\/p>\n","protected":false},"author":67,"featured_media":458753,"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-513936","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
Bitcoin Price Stuck In Crucial Range, 2023 Breakout Looms<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n