{"id":13671,"date":"2022-12-09T02:53:59","date_gmt":"2022-12-09T06:53:59","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=13671"},"modified":"2022-12-09T02:53:59","modified_gmt":"2022-12-09T06:53:59","slug":"bitcoin-price-regains-strength-why-btc-could-surpass-18k-this-time","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/12\/09\/bitcoin-price-regains-strength-why-btc-could-surpass-18k-this-time\/","title":{"rendered":"Bitcoin Price Regains Strength, Why BTC Could Surpass $18K This Time"},"content":{"rendered":"

Bitcoin price remained strong above the $16,700 level. BTC formed a base and started a fresh increase above the $17,000 resistance zone.<\/em><\/p>\n

Bitcoin found support near $16,700 and started a decent increase.
\nThe price is trading above $17,000 and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $16,875 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is eyeing more gains above the $17,400 and $17,500 resistance levels.<\/p>\n

Bitcoin Price Eyes Upside Break<\/h2>\n

Bitcoin price declined below the $16,800 support level<\/a>. However, BTC bears failed to clear the $16,700 level. The price traded as low as $16,700 before there was a fresh increase.<\/p>\n

There was a decent increase above the $16,850 and $16,900 levels. The price cleared the 50% Fib retracement level of the downward move from the $17,440 swing high to $16,700 low. Besides, there was a break above a major bearish trend line with resistance near $16,875 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin price is now trading above $17,000 and the 100 hourly simple moving average<\/a>. It is also trading near the 76.4% Fib retracement level of the downward move from the $17,440 swing high to $16,700 low.<\/p>\n

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

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

On the upside, an immediate resistance is near the $17,280 level. The first major resistance is near the $17,450 zone, above which the price may perhaps start another steady increase. In the stated case, the price could rise towards the $18,000 resistance. The next major resistance is near $18,250, above which the price rise towards the $18,500 zone in the near term.<\/p>\n

Dips Supported in BTC?<\/h2>\n

If bitcoin fails to clear the $17,280 resistance, there could be a fresh bearish reaction. An immediate support on the downside is near the $17,100 level.<\/p>\n

The next major support is near the $17,000 zone and the 100 hourly simple moving average. A downside break below the $17,000 support might call a drop towards $16,700. Any more losses might push the price towards the $16,200 zone in the near term.<\/p>\n

Technical indicators:<\/p>\n

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

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now in the overbought zone.<\/p>\n

Major Support Levels \u2013 $17,000, followed by $16,700.<\/p>\n

Major Resistance Levels \u2013 $17,280, $17,500 and $18,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price remained strong above the $16,700 level. BTC formed a base and started a fresh increase above the $17,000 resistance zone.<\/em><\/p>\n

Bitcoin found support near $16,700 and started a decent increase.
\nThe price is trading above $17,000 and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $16,875 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is eyeing more gains above the $17,400 and $17,500 resistance levels.<\/p>\n

Bitcoin Price Eyes Upside Break<\/h2>\n

Bitcoin price declined below the $16,800 support level<\/a>. However, BTC bears failed to clear the $16,700 level. The price traded as low as $16,700 before there was a fresh increase.<\/p>\n

There was a decent increase above the $16,850 and $16,900 levels. The price cleared the 50% Fib retracement level of the downward move from the $17,440 swing high to $16,700 low. Besides, there was a break above a major bearish trend line with resistance near $16,875 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin price is now trading above $17,000 and the 100 hourly simple moving average<\/a>. It is also trading near the 76.4% Fib retracement level of the downward move from the $17,440 swing high to $16,700 low.<\/p>\n

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

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

On the upside, an immediate resistance is near the $17,280 level. The first major resistance is near the $17,450 zone, above which the price may perhaps start another steady increase. In the stated case, the price could rise towards the $18,000 resistance. The next major resistance is near $18,250, above which the price rise towards the $18,500 zone in the near term.<\/p>\n

Dips Supported in BTC?<\/h2>\n

If bitcoin fails to clear the $17,280 resistance, there could be a fresh bearish reaction. An immediate support on the downside is near the $17,100 level.<\/p>\n

The next major support is near the $17,000 zone and the 100 hourly simple moving average. A downside break below the $17,000 support might call a drop towards $16,700. Any more losses might push the price towards the $16,200 zone in the near term.<\/p>\n

Technical indicators:<\/p>\n

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

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now in the overbought zone.<\/p>\n

Major Support Levels \u2013 $17,000, followed by $16,700.<\/p>\n

Major Resistance Levels \u2013 $17,280, $17,500 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-13671","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\/13671","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=13671"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/13671\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=13671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=13671"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=13671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}