{"id":14808,"date":"2022-12-27T04:54:19","date_gmt":"2022-12-27T08:54:19","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=14808"},"modified":"2022-12-27T04:54:19","modified_gmt":"2022-12-27T08:54:19","slug":"bitcoin-price-keeps-fighting-near-17k-what-could-spark-upside-break","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/12\/27\/bitcoin-price-keeps-fighting-near-17k-what-could-spark-upside-break\/","title":{"rendered":"Bitcoin Price Keeps Fighting Near $17K, What Could Spark Upside Break"},"content":{"rendered":"

Bitcoin price is still attempting an upside break above $17,000. BTC could gain bullish momentum if there is a daily close above the $17,000 and $17,200 resistance levels.<\/em><\/p>\n

Bitcoin is again attempting an upside break above the $17,000 and $17,200 levels.
\nThe price is trading above $16,750 and the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $16,820 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could gain bullish momentum if there is a daily close above the $17,200 resistance zone.<\/p>\n

Bitcoin Price Remains Supported<\/h2>\n

Bitcoin price climbed above the $16,800 resistance zone in the past few sessions. BTC even attempted an upside break above the $17,000 resistance zone<\/a>, but struggled to gain bullish momentum.<\/p>\n

The bulls made a couple of attempts to clear the $17,000 resistance, but failed. The recent high was formed near $16,920 and the price is now consolidating in a range. It corrected a few points and tested the 23.6% Fib retracement level of the upward move from the $16,565 swing low to $16,920 high.<\/p>\n

Bitcoin price is now trading above $16,750 and the 100 hourly simple moving average<\/a>. There is also a key bullish trend line forming with support near $16,820 on the hourly chart of the BTC\/USD pair.<\/p>\n

On the upside, an immediate resistance is near the $16,920 zone. The first major resistance is near the $17,000 zone. The main barrier is still near the $17,200 level. A proper daily close above the $17,200 resistance might start a steady recovery wave.<\/p>\n

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

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

The next major resistance is near $17,500, above which the price rise towards the $18,000 resistance zone. Any more gains might spark a move towards the $18,500 resistance zone.<\/p>\n

Fresh Drop in BTC?<\/h2>\n

If bitcoin fails to clear the $17,000 resistance, there could be a fresh drop. An immediate support on the downside is near the $16,820 level, the trend line, and the 100 hourly SMA.<\/p>\n

The next major support is near the $16,750 level. It is close to the 50% Fib retracement level of the upward move from the $16,565 swing low to $16,920 high. A downside break below the $16,750 support might send the pair towards the $16,570 level. Any more losses might send the price towards $16,350.<\/p>\n

Technical indicators:<\/p>\n

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

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $16,820, followed by $16,750.<\/p>\n

Major Resistance Levels \u2013 $17,000, $17,200 and $17,500.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is still attempting an upside break above $17,000. BTC could gain bullish momentum if there is a daily close above the $17,000 and $17,200 resistance levels.<\/em><\/p>\n

Bitcoin is again attempting an upside break above the $17,000 and $17,200 levels.
\nThe price is trading above $16,750 and the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $16,820 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could gain bullish momentum if there is a daily close above the $17,200 resistance zone.<\/p>\n

Bitcoin Price Remains Supported<\/h2>\n

Bitcoin price climbed above the $16,800 resistance zone in the past few sessions. BTC even attempted an upside break above the $17,000 resistance zone<\/a>, but struggled to gain bullish momentum.<\/p>\n

The bulls made a couple of attempts to clear the $17,000 resistance, but failed. The recent high was formed near $16,920 and the price is now consolidating in a range. It corrected a few points and tested the 23.6% Fib retracement level of the upward move from the $16,565 swing low to $16,920 high.<\/p>\n

Bitcoin price is now trading above $16,750 and the 100 hourly simple moving average<\/a>. There is also a key bullish trend line forming with support near $16,820 on the hourly chart of the BTC\/USD pair.<\/p>\n

On the upside, an immediate resistance is near the $16,920 zone. The first major resistance is near the $17,000 zone. The main barrier is still near the $17,200 level. A proper daily close above the $17,200 resistance might start a steady recovery wave.<\/p>\n

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

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

The next major resistance is near $17,500, above which the price rise towards the $18,000 resistance zone. Any more gains might spark a move towards the $18,500 resistance zone.<\/p>\n

Fresh Drop in BTC?<\/h2>\n

If bitcoin fails to clear the $17,000 resistance, there could be a fresh drop. An immediate support on the downside is near the $16,820 level, the trend line, and the 100 hourly SMA.<\/p>\n

The next major support is near the $16,750 level. It is close to the 50% Fib retracement level of the upward move from the $16,565 swing low to $16,920 high. A downside break below the $16,750 support might send the pair towards the $16,570 level. Any more losses might send the price towards $16,350.<\/p>\n

Technical indicators:<\/p>\n

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

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $16,820, followed by $16,750.<\/p>\n

Major Resistance Levels \u2013 $17,000, $17,200 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-14808","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\/14808","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=14808"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/14808\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=14808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=14808"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=14808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}