{"id":12477,"date":"2022-11-22T03:55:30","date_gmt":"2022-11-22T07:55:30","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=12477"},"modified":"2022-11-22T03:55:30","modified_gmt":"2022-11-22T07:55:30","slug":"bitcoin-price-trend-overwhelmingly-negative-bears-target-13k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/22\/bitcoin-price-trend-overwhelmingly-negative-bears-target-13k\/","title":{"rendered":"Bitcoin Price Trend Overwhelmingly Negative, Bears Target $13K"},"content":{"rendered":"

Bitcoin price extended losses and retested the $15,800 support. BTC could continue to move down towards the $15,000 and $14,000 levels.<\/em><\/p>\n

Bitcoin started a fresh decline below the $16,000 and $15,800 levels.
\nThe price is trading below $16,400 and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $16,150 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair remains at a risk of more losses towards the $15,000 level or even $14,000.<\/p>\n

Bitcoin Price Revisit $15,500<\/h2>\n

Bitcoin price started a fresh decline from the $17,000 resistance. BTC gained bearish momentum<\/a> after it settled below the $16,500 support zone.<\/p>\n

There was a move below the $16,000 level and the 100 hourly simple moving average<\/a>. The bears were able to push the price towards the key $15,500 support zone. A low is formed near $15,470 and the price is now correcting losses.<\/p>\n

There was a minor increase above the $15,800 resistance zone. Bitcoin price cleared the 23.6% Fib retracement level of the recent drop from the $16,795 swing high to $15,470 low.<\/p>\n

On the upside, an immediate resistance is near the $15,880 level. The first major resistance is near the $16,150 zone. There is also a major bearish trend line forming with resistance near $16,150 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

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

The 50% Fib retracement level of the recent drop from the $16,795 swing high to $15,470 low. The next major resistance is near the $16,400 level. The price must clear the trend line resistance and then $16,400 to start a decent increase. The next major resistance is near $16,500, above which the price could gain pace for a move towards the $17,000 zone.<\/p>\n

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

If bitcoin fails to recover above the $16,150 resistance zone, it could continue to move down. An immediate support on the downside is near the $15,650 level.<\/p>\n

The next major support is near the $15,500 zone, below which the price might test the key support at $15,000. A clear move below the $15,000 support might send the price further lower, may be towards $13,200.<\/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 below the 50 level.<\/p>\n

Major Support Levels \u2013 $15,650, followed by $15,500.<\/p>\n

Major Resistance Levels \u2013 $16,150, $16,400 and $16,500.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price extended losses and retested the $15,800 support. BTC could continue to move down towards the $15,000 and $14,000 levels.<\/em><\/p>\n

Bitcoin started a fresh decline below the $16,000 and $15,800 levels.
\nThe price is trading below $16,400 and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $16,150 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair remains at a risk of more losses towards the $15,000 level or even $14,000.<\/p>\n

Bitcoin Price Revisit $15,500<\/h2>\n

Bitcoin price started a fresh decline from the $17,000 resistance. BTC gained bearish momentum<\/a> after it settled below the $16,500 support zone.<\/p>\n

There was a move below the $16,000 level and the 100 hourly simple moving average<\/a>. The bears were able to push the price towards the key $15,500 support zone. A low is formed near $15,470 and the price is now correcting losses.<\/p>\n

There was a minor increase above the $15,800 resistance zone. Bitcoin price cleared the 23.6% Fib retracement level of the recent drop from the $16,795 swing high to $15,470 low.<\/p>\n

On the upside, an immediate resistance is near the $15,880 level. The first major resistance is near the $16,150 zone. There is also a major bearish trend line forming with resistance near $16,150 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

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

The 50% Fib retracement level of the recent drop from the $16,795 swing high to $15,470 low. The next major resistance is near the $16,400 level. The price must clear the trend line resistance and then $16,400 to start a decent increase. The next major resistance is near $16,500, above which the price could gain pace for a move towards the $17,000 zone.<\/p>\n

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

If bitcoin fails to recover above the $16,150 resistance zone, it could continue to move down. An immediate support on the downside is near the $15,650 level.<\/p>\n

The next major support is near the $15,500 zone, below which the price might test the key support at $15,000. A clear move below the $15,000 support might send the price further lower, may be towards $13,200.<\/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 below the 50 level.<\/p>\n

Major Support Levels \u2013 $15,650, followed by $15,500.<\/p>\n

Major Resistance Levels \u2013 $16,150, $16,400 and $16,500.<\/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-12477","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\/12477","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=12477"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/12477\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=12477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=12477"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=12477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}