{"id":11931,"date":"2022-11-14T15:54:09","date_gmt":"2022-11-14T19:54:09","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=11931"},"modified":"2022-11-14T15:54:09","modified_gmt":"2022-11-14T19:54:09","slug":"bitcoin-price-downtrend-far-from-over-why-btc-could-test-15k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/14\/bitcoin-price-downtrend-far-from-over-why-btc-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

Bitcoin started a fresh decline from the $18,000 and $18,150 resistance levels.
\nThe price is trading below $18,000 and the 100 hourly simple moving average.
\nThere 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).
\nThe pair could resume its decline below the $15,500 support zone in the near term.<\/p>\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

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

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

A clear move above the $17,000 resistance might push the price further higher. The next major resistance is near $17,500, above which the price could test the $18,000 zone.<\/p>\n

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

If bitcoin fails to start a recovery wave above the $17,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $16,000 level.<\/p>\n

The next major support is near the $15,550 zone. A clear move below the $15,550 support might push the price further lower. In this case, the price may perhaps decline towards 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 50 level.<\/p>\n

Major Support Levels \u2013 $16,000, followed by $15,550.<\/p>\n

Major Resistance Levels \u2013 $16,800, $17,000 and $17,500.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

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

Bitcoin started a fresh decline from the $18,000 and $18,150 resistance levels.
\nThe price is trading below $18,000 and the 100 hourly simple moving average.
\nThere 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).
\nThe pair could resume its decline below the $15,500 support zone in the near term.<\/p>\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

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

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

A clear move above the $17,000 resistance might push the price further higher. The next major resistance is near $17,500, above which the price could test the $18,000 zone.<\/p>\n

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

If bitcoin fails to start a recovery wave above the $17,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $16,000 level.<\/p>\n

The next major support is near the $15,550 zone. A clear move below the $15,550 support might push the price further lower. In this case, the price may perhaps decline towards 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 50 level.<\/p>\n

Major Support Levels \u2013 $16,000, followed by $15,550.<\/p>\n

Major Resistance Levels \u2013 $16,800, $17,000 and $17,500.<\/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-11931","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\/11931","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=11931"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/11931\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=11931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=11931"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=11931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}