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{"id":511237,"date":"2022-12-05T21:56:26","date_gmt":"2022-12-06T02:56:26","guid":{"rendered":"https:\/\/wncen.com\/?p=511237"},"modified":"2024-06-11T10:56:26","modified_gmt":"2024-06-11T10:56:26","slug":"bitcoin-price-lacking-momentum-17k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-lacking-momentum-17k\/","title":{"rendered":"Bitcoin Price Lacking Momentum Above $17k, BTC Holders Are Safe: Here’s Why"},"content":{"rendered":"

Bitcoin price extended its increase and tested the $17,500 resistance. BTC corrected gains, but it remains well supported above the $16,800 support.<\/em><\/p>\n

\n
Bitcoin extended its upward move above $17,100 and $17,300 resistance levels.<\/li>\n
The price is trading near $17,000 and the 100 hourly simple moving average.<\/li>\n
There was a break below a key bullish trend line with support near $17,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair must stay above the $16,800 support to start a fresh increase.<\/li>\n<\/ul>\n
Bitcoin Price Remains Supported<\/h2>\n
Bitcoin price settled above the $17,000 resistance zone<\/a> and extended its increase. BTC was able to clear the $17,100 and $17,200 resistance levels.<\/p>\n
The price even spiked above $17,400 and traded close to the $17,500 resistance zone. However, the bears were active near the $17,500 resistance zone. A high was formed near $17,440 and the price started a downside correction.<\/p>\n
Bitcoin price declined below the $17,200 level and the 100 hourly simple moving average<\/a>. There was a break below a key bullish trend line with support near $17,050 on the hourly chart of the BTC\/USD pair.<\/p>\n
The price traded as low as $16,888 and is currently rising. It is trading near $17,000 and the 100 hourly simple moving average. It is trading above the 23.6% Fib retracement level of the recent decline from the $17,440 swing high to $16,888 low.<\/p>\n
On the upside, an immediate resistance is near the $17,165 level. It is near the 50% Fib retracement level of the recent decline from the $17,440 swing high to $16,888 low. The first major resistance is near the $17,250 zone, above which the price may perhaps start another steady increase.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
In the stated case, the price could rise towards the $17,500 resistance. The next major resistance is near $17,650, above which the price rise towards the $18,000 zone in the near term.<\/p>\n
More Losses in BTC?<\/h2>\n
If bitcoin fails to start a fresh increase above the $17,165 resistance, there could be more downsides. An immediate support on the downside is near the $16,850 level.<\/p>\n
The next major support is near the $16,800 zone. A downside break below the $16,800 support might call for a move towards $16,500. Any more losses might call for a test of the key $16,000 support zone in the near term.<\/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 just below the 50 level.<\/p>\n
Major Support Levels \u2013 $16,800, followed by $16,500.<\/p>\n
Major Resistance Levels \u2013 $17,165, $17,250 and $18,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price extended its increase and tested the $17,500 resistance. BTC corrected gains, but it remains well supported above the $16,800 support. Bitcoin extended its upward move above $17,100 and $17,300 resistance levels. The price is trading near $17,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $17,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must stay above the $16,800 support to start a fresh increase. Bitcoin Price Remains Supported Bitcoin price settled above the $17,000 resistance zone and extended its increase. BTC was able to clear the $17,100 and $17,200 resistance levels. The price even spiked above $17,400 and traded close to the $17,500 resistance zone. However, the bears were active near the $17,500 resistance zone. A high was formed near $17,440 and the price started a downside correction. Bitcoin price declined below the $17,200 level and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $17,050 on the hourly chart of the BTC\/USD pair. The price traded as low as $16,888 and is currently rising. It is trading near $17,000 and the 100 hourly simple moving average. It is trading above the 23.6% Fib retracement level of the recent decline from the $17,440 swing high to $16,888 low. On the upside, an immediate resistance is near the $17,165 level. It is near the 50% Fib retracement level of the recent decline from the $17,440 swing high to $16,888 low. The first major resistance is near the $17,250 zone, above which the price may perhaps start another steady increase. Source: BTCUSD on TradingView.com In the stated case, the price could rise towards the $17,500 resistance. The next major resistance is near $17,650, above which the price rise towards the $18,000 zone in the near term. More Losses in BTC? If bitcoin fails to start a fresh increase above the $17,165 resistance, there could be more downsides. An immediate support on the downside is near the $16,850 level. The next major support is near the $16,800 zone. A downside break below the $16,800 support might call for a move towards $16,500. Any more losses might call for a test of the key $16,000 support zone in the near term. 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 just below the 50 level. Major Support Levels \u2013 $16,800, followed by $16,500. Major Resistance Levels \u2013 $17,165, $17,250 and $18,000.<\/p>\n","protected":false},"author":67,"featured_media":457822,"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-511237","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 Lacking Momentum Above $17k, BTC Holders Are Safe: Here's Why<\/title>\n<meta name=\"description\" content=\"Bitcoin price extended its increase and tested the $17,500 resistance. 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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:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Lacking Momentum Above $17k, BTC Holders Are Safe: Here’s Why","url":"http:\/\/wncen.com\/news\/bitcoin-price-lacking-momentum-17k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-lacking-momentum-17k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_587323760.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_587323760.jpg?fit=1000%2C745"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2022-12-06T02:56:26Z","datePublished":"2022-12-06T02:56:26Z","dateModified":"2024-06-11T10:56:26Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Lacking Momentum Above $17k, BTC Holders Are Safe: Here’s Why\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-lacking-momentum-17k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-lacking-momentum-17k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_587323760.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_587323760.jpg?fit=1000%2C745\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2022-12-06T02:56:26Z\",\"datePublished\":\"2022-12-06T02:56:26Z\",\"dateModified\":\"2024-06-11T10:56:26Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_587323760.jpg?fit=1000%2C745","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/511237"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=511237"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/511237\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/457822"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=511237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=511237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=511237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}