{"id":11653,"date":"2022-11-10T02:56:00","date_gmt":"2022-11-10T06:56:00","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=11653"},"modified":"2022-11-10T02:56:00","modified_gmt":"2022-11-10T06:56:00","slug":"bitcoin-price-plunges-15-can-buyers-save-the-key-15k-support","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/10\/bitcoin-price-plunges-15-can-buyers-save-the-key-15k-support\/","title":{"rendered":"Bitcoin Price Plunges 15%, Can Buyers Save The Key $15K Support?"},"content":{"rendered":"

Bitcoin price declined over 15% and even traded below $16,000. BTC remains at a risk of more losses if it breaks the $15,000 support zone.<\/em><\/p>\n

Bitcoin remained in a bearish zone after the FTX collapse and declined below $16,000.
\nThe price is trading below $17,500 and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $16,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move down if it stays below the $16,500 and $17,000 levels.<\/p>\n

Bitcoin Price Tumbles<\/h2>\n

Bitcoin price remained in a bearish zone after it settled below the $20,000 support zone. Binance opted out to bail FTX, resulting in an increase in selling pressure. BTC declined below the $18,500 and $17,000 levels.<\/p>\n

The crypto market is bleeding and many altcoins such as ethereum<\/a>, bnb<\/a>, ripple are down over 15%. Bitcoin price also gained bearish momentum and traded below the $16,000 support level. The price traded as low as $15,555 and is currently consolidating losses.<\/p>\n

It is trading below $17,500 and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $16,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

On the upside, an immediate resistance is near the $16,400 level. The first major resistance is near the $16,650 level. It is near the 23.6% Fib retracement level of the recent decline from the $20,671 swing high to $15,555 low.<\/p>\n

<\/a><\/p>\n

Source: BTCUSD on TradingView.com<\/a><\/p>\n

A clear move above the trend line resistance and $16,675 might start a decent recovery wave. The next major resistance is near $18,000 or the 50% Fib retracement level of the recent decline from the $20,671 swing high to $15,555 low, above which the price could test the $20,000 zone.<\/p>\n

More Losses in BTC?<\/h2>\n

If bitcoin fails to start a recovery wave above the $16,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $15,800 level.<\/p>\n

The next major support is near the $15,500 zone. A clear move below the $15,500 support might push the price further lower. In this case, the price may perhaps decline below the $15,000 support zone.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 30 level.<\/p>\n

Major Support Levels \u2013 $15,800, followed by $15,500.<\/p>\n

Major Resistance Levels \u2013 $16,500, $16,675 and $18,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price declined over 15% and even traded below $16,000. BTC remains at a risk of more losses if it breaks the $15,000 support zone.<\/em><\/p>\n

Bitcoin remained in a bearish zone after the FTX collapse and declined below $16,000.
\nThe price is trading below $17,500 and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $16,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move down if it stays below the $16,500 and $17,000 levels.<\/p>\n

Bitcoin Price Tumbles<\/h2>\n

Bitcoin price remained in a bearish zone after it settled below the $20,000 support zone. Binance opted out to bail FTX, resulting in an increase in selling pressure. BTC declined below the $18,500 and $17,000 levels.<\/p>\n

The crypto market is bleeding and many altcoins such as ethereum<\/a>, bnb<\/a>, ripple are down over 15%. Bitcoin price also gained bearish momentum and traded below the $16,000 support level. The price traded as low as $15,555 and is currently consolidating losses.<\/p>\n

It is trading below $17,500 and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $16,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

On the upside, an immediate resistance is near the $16,400 level. The first major resistance is near the $16,650 level. It is near the 23.6% Fib retracement level of the recent decline from the $20,671 swing high to $15,555 low.<\/p>\n

<\/a><\/p>\n

Source: BTCUSD on TradingView.com<\/a><\/p>\n

A clear move above the trend line resistance and $16,675 might start a decent recovery wave. The next major resistance is near $18,000 or the 50% Fib retracement level of the recent decline from the $20,671 swing high to $15,555 low, above which the price could test the $20,000 zone.<\/p>\n

More Losses in BTC?<\/h2>\n

If bitcoin fails to start a recovery wave above the $16,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $15,800 level.<\/p>\n

The next major support is near the $15,500 zone. A clear move below the $15,500 support might push the price further lower. In this case, the price may perhaps decline below the $15,000 support zone.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 30 level.<\/p>\n

Major Support Levels \u2013 $15,800, followed by $15,500.<\/p>\n

Major Resistance Levels \u2013 $16,500, $16,675 and $18,000.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-11653","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/11653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=11653"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/11653\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=11653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=11653"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=11653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}