{"id":15337,"date":"2023-01-05T01:58:36","date_gmt":"2023-01-05T05:58:36","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=15337"},"modified":"2023-01-05T01:58:36","modified_gmt":"2023-01-05T05:58:36","slug":"bitcoin-price-jumps-to-17k-and-prints-bullish-continuation-signal","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/05\/bitcoin-price-jumps-to-17k-and-prints-bullish-continuation-signal\/","title":{"rendered":"Bitcoin Price Jumps To $17K and Prints Bullish Continuation Signal"},"content":{"rendered":"

Bitcoin price climbed higher above the $16,800 resistance. BTC could rise further if it clears the $17,000 and $17,050 levels.<\/em><\/p>\n

Bitcoin is slowly moving higher above the $16,800 and $16,850 resistance levels.
\nThe price is trading above $16,700 and the 100 hourly simple moving average.
\nThere is a major bullish trend line forming with support near $16,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise steadily if there is a close above the $17,000 resistance.<\/p>\n

Bitcoin Price Climbs Higher<\/h2>\n

Bitcoin price remained stable above the $16,500 support zone<\/a>. BTC started a decent increase and was able to clear the $16,800 resistance level.<\/p>\n

The price even surged above the $16,850 level and the 100 hourly simple moving average. There was a spike towards the $17,000 level. A high was formed near $16,987 and the price is now correcting gains. There was a minor move below the $16,900 level.<\/p>\n

The price spiked below the 50% Fib retracement level of the recent increase from the $16,614 swing low to $16,987 high. Bitcoin price is now trading above $16,700 and the 100 hourly simple moving average<\/a>.<\/p>\n

There is also a major bullish trend line forming with support near $16,700 on the hourly chart of the BTC\/USD pair. On the upside, an immediate resistance is near the $16,900 level.<\/p>\n

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

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

The next major resistance is near the $17,000 zone. A proper close above the $17,000 resistance might start a steady increase in the near term. In the stated case, the price may perhaps rise towards the $17,500 level. Any more gains might send the price towards the $18,000 level in the coming sessions.<\/p>\n

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

If bitcoin price fails to climb the $17,000 resistance, it could start a downside correction. An immediate support on the downside is near the $16,750 level.<\/p>\n

The 61.8% Fib retracement level of the recent increase from the $16,614 swing low to $16,987 high is also near the $16,750 level. The next major support is near the $16,700 level and the trend line. A clear move below the $16,700 support might send the price towards the $16,500 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 $16,750, followed by $16,700.<\/p>\n

Major Resistance Levels \u2013 $16,900, $17,000 and $17,500.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price climbed higher above the $16,800 resistance. BTC could rise further if it clears the $17,000 and $17,050 levels.<\/em><\/p>\n

Bitcoin is slowly moving higher above the $16,800 and $16,850 resistance levels.
\nThe price is trading above $16,700 and the 100 hourly simple moving average.
\nThere is a major bullish trend line forming with support near $16,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise steadily if there is a close above the $17,000 resistance.<\/p>\n

Bitcoin Price Climbs Higher<\/h2>\n

Bitcoin price remained stable above the $16,500 support zone<\/a>. BTC started a decent increase and was able to clear the $16,800 resistance level.<\/p>\n

The price even surged above the $16,850 level and the 100 hourly simple moving average. There was a spike towards the $17,000 level. A high was formed near $16,987 and the price is now correcting gains. There was a minor move below the $16,900 level.<\/p>\n

The price spiked below the 50% Fib retracement level of the recent increase from the $16,614 swing low to $16,987 high. Bitcoin price is now trading above $16,700 and the 100 hourly simple moving average<\/a>.<\/p>\n

There is also a major bullish trend line forming with support near $16,700 on the hourly chart of the BTC\/USD pair. On the upside, an immediate resistance is near the $16,900 level.<\/p>\n

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

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

The next major resistance is near the $17,000 zone. A proper close above the $17,000 resistance might start a steady increase in the near term. In the stated case, the price may perhaps rise towards the $17,500 level. Any more gains might send the price towards the $18,000 level in the coming sessions.<\/p>\n

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

If bitcoin price fails to climb the $17,000 resistance, it could start a downside correction. An immediate support on the downside is near the $16,750 level.<\/p>\n

The 61.8% Fib retracement level of the recent increase from the $16,614 swing low to $16,987 high is also near the $16,750 level. The next major support is near the $16,700 level and the trend line. A clear move below the $16,700 support might send the price towards the $16,500 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 $16,750, followed by $16,700.<\/p>\n

Major Resistance Levels \u2013 $16,900, $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-15337","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\/15337","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=15337"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/15337\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=15337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=15337"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=15337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}