{"id":512179,"date":"2022-12-12T22:00:29","date_gmt":"2022-12-13T03:00:29","guid":{"rendered":"https:\/\/wncen.com\/?p=512179"},"modified":"2024-06-11T14:31:53","modified_gmt":"2024-06-11T14:31:53","slug":"bitcoin-price-ready-17-5k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-ready-17-5k\/","title":{"rendered":"Bitcoin Price Looks Ready For Another Leg Higher Over $17.5K"},"content":{"rendered":"<p><em>Bitcoin price remained well bid above the $16,920 support. BTC climbed higher and might soon aim an upside break above the $17,500 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin found a strong buying interest near the $16,920 and $16,900 levels.<\/li>\n<li>The price is trading above $17,000 and the 100 hourly simple moving average.<\/li>\n<li>There is a major contracting triangle forming with resistance near $17,220 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could gain bullish momentum if it clears the $17,250 and $17,450 resistance levels.<\/li>\n<\/ul>\n<h2>Bitcoin Price Eyes Upside Break<\/h2>\n<p><a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-stuck-17k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin price corrected lower<\/a> from the $17,292 swing high. BTC declined below the $17,000 level and the 100 hourly simple moving average.<\/p>\n<p>However, the bulls were active near the $16,920 and $16,900 levels. A low was formed near $16,880 and the price started a fresh increase. There was a clear move above the $17,000 resistance zone and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-regains-strength-17k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p>Bitcoin price is now consolidating gains near the $17,150 level. There was a minor decline below the 23.6% Fib retracement level of the recent increase from the $16,880 low to $17,247 high.<\/p>\n<p>On the upside, an immediate resistance is near the $17,150 level. There is also a major contracting triangle forming with resistance near $17,220 on the hourly chart of the BTC\/USD pair. The first major resistance is near the $17,300 zone, above which the price may perhaps revisit the $17,450 zone.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-8.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-512180\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-8.png?resize=1834%2C845\" alt=\"Bitcoin Price \" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-8.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-8.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-8.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-8.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-8.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-8.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-8.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>The next major resistance is near $17,500, above which the price start a steady increase and rise towards the $18,000 zone in the near term.<\/p>\n<h2>Dips Limited in BTC?<\/h2>\n<p>If bitcoin fails to clear the $17,150 resistance, there could be a fresh decline. An immediate support on the downside is near the $17,120 level and the 100 hourly simple moving average.<\/p>\n<p>The next major support is near the $17,000 zone. It is near the 50% Fib retracement level of the recent increase from the $16,880 low to $17,247 high. A downside break below the $17,000 support might call a drop towards $16,880. Any more losses might push the price towards the $16,500 zone in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $17,000, followed by $16,880.<\/p>\n<p>Major Resistance Levels \u2013 $17,150, $17,300 and $17,450.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price remained well bid above the $16,920 support. BTC climbed higher and might soon aim an upside break above the $17,500 resistance zone. Bitcoin found a strong buying interest near the $16,920 and $16,900 levels. The price is trading above $17,000 and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $17,220 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $17,250 and $17,450 resistance levels. Bitcoin Price Eyes Upside Break Bitcoin price corrected lower from the $17,292 swing high. BTC declined below the $17,000 level and the 100 hourly simple moving average. However, the bulls were active near the $16,920 and $16,900 levels. A low was formed near $16,880 and the price started a fresh increase. There was a clear move above the $17,000 resistance zone and the 100 hourly simple moving average. Bitcoin price is now consolidating gains near the $17,150 level. There was a minor decline below the 23.6% Fib retracement level of the recent increase from the $16,880 low to $17,247 high. On the upside, an immediate resistance is near the $17,150 level. There is also a major contracting triangle forming with resistance near $17,220 on the hourly chart of the BTC\/USD pair. The first major resistance is near the $17,300 zone, above which the price may perhaps revisit the $17,450 zone. The next major resistance is near $17,500, above which the price start a steady increase and rise towards the $18,000 zone in the near term. Dips Limited in BTC? If bitcoin fails to clear the $17,150 resistance, there could be a fresh decline. An immediate support on the downside is near the $17,120 level and the 100 hourly simple moving average. The next major support is near the $17,000 zone. It is near the 50% Fib retracement level of the recent increase from the $16,880 low to $17,247 high. A downside break below the $17,000 support might call a drop towards $16,880. Any more losses might push the price towards the $16,500 zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing 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 $17,000, followed by $16,880. Major Resistance Levels \u2013 $17,150, $17,300 and $17,450.<\/p>\n","protected":false},"author":67,"featured_media":458186,"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-512179","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 Looks Ready For Another Leg Higher Over $17.5K<\/title>\n<meta name=\"description\" content=\"Bitcoin price remained well bid above the $16,920 support. 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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 Looks Ready For Another Leg Higher Over $17.5K","url":"http:\/\/wncen.com\/news\/bitcoin-price-ready-17-5k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-ready-17-5k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_1182580207.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_1182580207.jpg?fit=1000%2C563"},"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":"2022-12-13T03:00:29Z","datePublished":"2022-12-13T03:00:29Z","dateModified":"2024-06-11T14:31:53Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Looks Ready For Another Leg Higher Over $17.5K\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-ready-17-5k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-ready-17-5k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1182580207.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1182580207.jpg?fit=1000%2C563\"},\"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\":\"2022-12-13T03:00:29Z\",\"datePublished\":\"2022-12-13T03:00:29Z\",\"dateModified\":\"2024-06-11T14:31:53Z\"}<\/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_1182580207.jpg?fit=1000%2C563","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/512179","targetHints":{"allow":["GET"]}}],"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=512179"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/512179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/458186"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=512179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=512179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=512179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}