{"id":449826,"date":"2020-11-16T03:48:51","date_gmt":"2020-11-16T03:48:51","guid":{"rendered":"https:\/\/wncen.com\/?p=449826"},"modified":"2024-06-11T13:06:02","modified_gmt":"2024-06-11T13:06:02","slug":"bitcoin-near-inflection-zone-15800","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-near-inflection-zone-15800\/","title":{"rendered":"TA: Bitcoin Near Inflection Zone, Why Breakdown Below $15,800 Seems Likely"},"content":{"rendered":"<p><em>Bitcoin price started a downside correction from well above $16,200 against the US Dollar. BTC is likely to accelerate losses if there is a clear break below the $15,800 support.<\/em><\/p>\n<ul>\n<li>Bitcoin failed to stay above the $16,200 support and extended its decline.<\/li>\n<li>The price is currently trading below $16,000 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $16,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair remains at a risk of a sharp decline if there is a clear break below the $15,800 support.<\/li>\n<\/ul>\n<h2>Bitcoin Price Could Decline Further<\/h2>\n<p>After struggling to gain pace above the $16,500 level, <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-signaling-start-of-corrective-decrease-why-15k-is-the-key\/\" target=\"_blank\" rel=\"noopener \">bitcoin price started a downside correction<\/a>. BTC broke the $16,200 support level and settled below the 100 hourly simple moving average to move into a short-term bearish zone.<\/p>\n<p>It even broke the $16,000 handle, but the bulls were able to protect $15,800. The recent swing low was formed near $15,803 before the price started a minor upward move. There was a break above the $15,900 and $15,950 levels.<\/p>\n<p>Bitcoin price even spiked above the 50% Fib retracement level of the recent decline from the $16,172 high to $15,803 swing low. The price is now struggling to recover above the $16,000 zone and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/ta-bitcoin-surges-5-why-pullbacks-remain-attractive-to-the-bulls\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/Bitcoin-13.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1828\" height=\"868\" class=\"alignnone size-full wp-image-449827\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/Bitcoin-13.png?resize=1828%2C868\" alt=\"Bitcoin Price\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/Bitcoin-13.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/Bitcoin-13.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/Bitcoin-13.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/Bitcoin-13.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/Bitcoin-13.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/Bitcoin-13.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/Bitcoin-13.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>There is also a key bearish trend line forming with resistance near $16,050 on the hourly chart of the BTC\/USD pair. The trend line is close to the 61.8% Fib retracement level of the recent decline from the $16,172 high to $15,803 swing low.<\/p>\n<p>A clear break above the trend line resistance, $16,100 and the 100 hourly SMA could open the doors for a fresh increase in the coming sessions.<\/p>\n<h2>Downside Break in BTC?<\/h2>\n<p>If bitcoin fails to clear the trend line resistance, $16,100 and the 100 hourly SMA, there is a risk of a downside break. The first major support on the downside is near the $15,800 level.<\/p>\n<p>A downside break below the $15,800 support may perhaps put a lot of pressure on the bulls. In the stated case, the price is likely to decline towards the $15,500 support or even $15,200.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is slowly losing momentum in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently close to the 50 level.<\/p>\n<p>Major Support Levels \u2013 $15,800, followed by $15,500.<\/p>\n<p>Major Resistance Levels \u2013 $16,000, $16,050 and $16,200.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a downside correction from well above $16,200 against the US Dollar. BTC is likely to accelerate losses if there is a clear break below the $15,800 support. Bitcoin failed to stay above the $16,200 support and extended its decline. The price is currently trading below $16,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $16,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair remains at a risk of a sharp decline if there is a clear break below the $15,800 support. Bitcoin Price Could Decline Further After struggling to gain pace above the $16,500 level, bitcoin price started a downside correction. BTC broke the $16,200 support level and settled below the 100 hourly simple moving average to move into a short-term bearish zone. It even broke the $16,000 handle, but the bulls were able to protect $15,800. The recent swing low was formed near $15,803 before the price started a minor upward move. There was a break above the $15,900 and $15,950 levels. Bitcoin price even spiked above the 50% Fib retracement level of the recent decline from the $16,172 high to $15,803 swing low. The price is now struggling to recover above the $16,000 zone and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com There is also a key bearish trend line forming with resistance near $16,050 on the hourly chart of the BTC\/USD pair. The trend line is close to the 61.8% Fib retracement level of the recent decline from the $16,172 high to $15,803 swing low. A clear break above the trend line resistance, $16,100 and the 100 hourly SMA could open the doors for a fresh increase in the coming sessions. Downside Break in BTC? If bitcoin fails to clear the trend line resistance, $16,100 and the 100 hourly SMA, there is a risk of a downside break. The first major support on the downside is near the $15,800 level. A downside break below the $15,800 support may perhaps put a lot of pressure on the bulls. In the stated case, the price is likely to decline towards the $15,500 support or even $15,200. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently close to the 50 level. Major Support Levels \u2013 $15,800, followed by $15,500. Major Resistance Levels \u2013 $16,000, $16,050 and $16,200.<\/p>\n","protected":false},"author":67,"featured_media":449828,"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":[428,1144,78790,76835],"class_list":["post-449826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>TA: Bitcoin Near Inflection Zone, Why Breakdown Below $15,800 Seems Likely<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a downside correction from well above $16,200. 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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:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Bitcoin Near Inflection Zone, Why Breakdown Below $15,800 Seems Likely","url":"http:\/\/wncen.com\/news\/bitcoin-near-inflection-zone-15800\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-near-inflection-zone-15800\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/shutterstock_406389967.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/shutterstock_406389967.jpg?fit=1000%2C1000"},"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","btcusd","btcusdt","xbtusd"],"dateCreated":"2020-11-16T03:48:51Z","datePublished":"2020-11-16T03:48:51Z","dateModified":"2024-06-11T13:06:02Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Near Inflection Zone, Why Breakdown Below $15,800 Seems Likely\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-near-inflection-zone-15800\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-near-inflection-zone-15800\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/11\\\/shutterstock_406389967.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/11\\\/shutterstock_406389967.jpg?fit=1000%2C1000\"},\"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\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2020-11-16T03:48:51Z\",\"datePublished\":\"2020-11-16T03:48:51Z\",\"dateModified\":\"2024-06-11T13:06:02Z\"}<\/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\/2020\/11\/shutterstock_406389967.jpg?fit=1000%2C1000","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/449826"}],"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=449826"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/449826\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/449828"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=449826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=449826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=449826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}