{"id":508393,"date":"2022-11-14T14:59:52","date_gmt":"2022-11-14T14:59:52","guid":{"rendered":"https:\/\/wncen.com\/?p=508393"},"modified":"2024-06-11T08:05:55","modified_gmt":"2024-06-11T08:05:55","slug":"bitcoin-price-downtrend-could-test-15k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-downtrend-could-test-15k\/","title":{"rendered":"Bitcoin Price Downtrend Far From Over, Why BTC Could Test $15K"},"content":{"rendered":"
Bitcoin price failed to clear $18,000 and started a fresh decline. BTC is showing bearish signs and it might soon decline towards the $15,000 level.<\/em><\/p>\n
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Bitcoin started a fresh decline from the $18,000 and $18,150 resistance levels.<\/li>\n
The price is trading below $18,000 and the 100 hourly simple moving average.<\/li>\n
There is a key bearish trend line forming with resistance near $16,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could resume its decline below the $15,500 support zone in the near term.<\/li>\n<\/ul>\n
Bitcoin Price Resumes Drop<\/h2>\n
Bitcoin price attempted a recovery wave above the $17,500 resistance zone. However, BTC failed to gain strength above the $18,000 resistance and stayed below the 100 hourly simple moving average.<\/p>\n
A high was formed near $18,155 and there was a fresh decline, similar to ethereum, bnb, and ripple. The price declined below the $17,500 and $17,200 support levels. The bears pushed the price below the 50% Fib retracement level of the upward move from the $15,555 swing low to $18,155 high.<\/p>\n
Bitcoin price is now trading below $18,000 and the 100 hourly simple moving average. Besides, there is a key bearish trend line forming with resistance near $16,400 on the hourly chart of the BTC\/USD pair.<\/p>\n
The price also spiked once below the 76.4% Fib retracement level of the upward move from the $15,555 swing low to $18,155 high. On the upside, an immediate resistance is near the $16,800 level and the trend line. The first major resistance is near the $17,000 level and the 100 hourly simple moving average.<\/p>\n