{"id":514087,"date":"2022-12-29T00:29:27","date_gmt":"2022-12-29T05:29:27","guid":{"rendered":"https:\/\/uniquehot.com\/?p=514087"},"modified":"2024-06-11T07:57:37","modified_gmt":"2024-06-11T07:57:37","slug":"bitcoin-price-grinds-lower-16k-2","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-grinds-lower-16k-2\/","title":{"rendered":"Bitcoin Price Grinds Lower, More Losses Seem Imminent"},"content":{"rendered":"<p><em>Bitcoin price is slowly moving lower from the $17,000 resistance. BTC could continue to move down towards the $16,000 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh decline after it failed to clear the $17,000 and $17,200 resistance levels.<\/li>\n<li>The price is trading below $16,700 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bearish trend lie forming with resistance near $16,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could drop further if there is a clear move below the $16,500 support zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Extends Losses<\/h2>\n<p>Bitcoin price failed to gain pace above the <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-crucial-range-17k\/\" target=\"_blank\" rel=\"noopener \">$17,000 resistance zone<\/a>. BTC started a fresh decline below the $16,800 support zone to move into a bearish zone.<\/p>\n<p>The price even traded below the $16,650 support zone and the 100 hourly simple moving average. It traded as low as $16,453 and is currently consolidating losses. The price is clearly trading in a bearish zone below $16,700 and the 100 hourly simple moving average.<\/p>\n<p>Bitcoin price is now facing resistance near the $16,580 level. It is close to the 23.6% Fib retracement level of the downward move from the $16,961 swing high to $16,453 low. There is also a key bearish trend lie forming with resistance near $16,600 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The first major resistance is near the $16,700 zone and the <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-keeps-fighting-17k\/\" target=\"_blank\" rel=\"noopener \">100 hourly SMA<\/a>. It is close to the 50% key bearish trend lie forming with resistance near $16,600 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-514088\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25.png?resize=1834%2C845\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25.png?w=1834 1834w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/Bitcoin-25.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"nofollow noopener\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The main hurdle is still near the $17,000 level. A proper close above the $17,000 resistance might start a steady increase in the near term. The next major resistance is near $17,200, above which the price rise towards the $17,500 resistance zone.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to start a recovery wave above the $16,700 resistance, it could continue to move down. An immediate support on the downside is near the $16,450 level.<\/p>\n<p>The next major support is near the $16,200 level. A downside break below the $16,200 support might spark a move towards the $16,000 level. Any more losses might send the price towards $15,550.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $16,450, followed by $16,200.<\/p>\n<p>Major Resistance Levels \u2013 $16,700, $17,000 and $17,200.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is slowly moving lower from the $17,000 resistance. BTC could continue to move down towards the $16,000 support zone. Bitcoin started a fresh decline after it failed to clear the $17,000 and $17,200 resistance levels. The price is trading below $16,700 and the 100 hourly simple moving average. There is a key bearish trend lie forming with resistance near $16,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could drop further if there is a clear move below the $16,500 support zone. Bitcoin Price Extends Losses Bitcoin price failed to gain pace above the $17,000 resistance zone. BTC started a fresh decline below the $16,800 support zone to move into a bearish zone. The price even traded below the $16,650 support zone and the 100 hourly simple moving average. It traded as low as $16,453 and is currently consolidating losses. The price is clearly trading in a bearish zone below $16,700 and the 100 hourly simple moving average. Bitcoin price is now facing resistance near the $16,580 level. It is close to the 23.6% Fib retracement level of the downward move from the $16,961 swing high to $16,453 low. There is also a key bearish trend lie forming with resistance near $16,600 on the hourly chart of the BTC\/USD pair. The first major resistance is near the $16,700 zone and the 100 hourly SMA. It is close to the 50% key bearish trend lie forming with resistance near $16,600 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The main hurdle is still near the $17,000 level. A proper close above the $17,000 resistance might start a steady increase in the near term. The next major resistance is near $17,200, above which the price rise towards the $17,500 resistance zone. More Losses in BTC? If bitcoin fails to start a recovery wave above the $16,700 resistance, it could continue to move down. An immediate support on the downside is near the $16,450 level. The next major support is near the $16,200 level. A downside break below the $16,200 support might spark a move towards the $16,000 level. Any more losses might send the price towards $15,550. 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 $16,450, followed by $16,200. Major Resistance Levels \u2013 $16,700, $17,000 and $17,200.<\/p>\n","protected":false},"author":67,"featured_media":464089,"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-514087","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<title>Bitcoin Price Grinds Lower, More Losses Seem Imminent<\/title>\n<meta name=\"description\" content=\"Bitcoin price is slowly moving lower from the $17,000 resistance. BTC could continue to move down towards the $16,000 support zone. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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 Grinds Lower, More Losses Seem Imminent","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-grinds-lower-16k-2\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-grinds-lower-16k-2\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_271682210.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_271682210.jpg?fit=1000%2C651"},"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":"2022-12-29T05:29:27Z","datePublished":"2022-12-29T05:29:27Z","dateModified":"2024-06-11T07:57:37Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Grinds Lower, More Losses Seem Imminent\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-grinds-lower-16k-2\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-grinds-lower-16k-2\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_271682210.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_271682210.jpg?fit=1000%2C651\"},\"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\":\"2022-12-29T05:29:27Z\",\"datePublished\":\"2022-12-29T05:29:27Z\",\"dateModified\":\"2024-06-11T07:57:37Z\"}<\/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_271682210.jpg?fit=1000%2C651","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/514087","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=514087"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/514087\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/464089"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=514087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=514087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=514087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}