{"id":15427,"date":"2023-01-06T01:52:34","date_gmt":"2023-01-06T05:52:34","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=15427"},"modified":"2023-01-06T01:52:34","modified_gmt":"2023-01-06T05:52:34","slug":"bitcoin-price-remains-in-bullish-zone-for-a-push-to-18k-heres-why","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/06\/bitcoin-price-remains-in-bullish-zone-for-a-push-to-18k-heres-why\/","title":{"rendered":"Bitcoin Price Remains In Bullish Zone For A Push To $18K, Here\u2019s Why"},"content":{"rendered":"

Bitcoin price started a downside correction from the $17,000 resistance. BTC found support near $16,750 and might soon attempt an upside break above $17,000.<\/em><\/p>\n

Bitcoin is showing bullish signs above the $16,600 and $16,750 levels.
\nThe price is trading above $16,750 and the 100 hourly simple moving average.
\nThere is a crucial bullish trend line forming with support near $16,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a strong increase if there is a close above the $17,000 resistance.<\/p>\n

Bitcoin Price Remains Supported<\/h2>\n

Bitcoin price attempted a decent upward move<\/a> above the $16,800 resistance level. BTC even spiked towards the $17,000 resistance zone, but there was no clear upside break.<\/p>\n

A high was formed near $16,987 and the price started a downside correction. There was a move below the $16,800 support zone. The price declined below the 50% Fib retracement level of the upward move from the $16,615 swing low to $16,987 high.<\/p>\n

However, bitcoin price found support near the $16,750 level. The 61.8% Fib retracement level of the upward move from the $16,615 swing low to $16,987 high is acting as a support.<\/p>\n

There is also a crucial bullish trend line forming with support near $16,750 on the hourly chart of the BTC\/USD pair. The pair is stable above $16,750 and the 100 hourly simple moving average<\/a>. 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 clear move and close above the $17,000 resistance might start a strong increase in the near term. In the stated case, the price may perhaps rise towards the $17,550 level. Any more gains might call for a move towards the $18,000 level.<\/p>\n

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

If bitcoin price fails to clear the $17,000 resistance, it could start a downside correction. An immediate support on the downside is near the $16,800 level.<\/p>\n

The next major support is near the $16,750 level and the trend line. A downside break below the $16,750 support might send the price towards the $16,500 level. Any more losses might call for a test of $16,350.<\/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 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 started a downside correction from the $17,000 resistance. BTC found support near $16,750 and might soon attempt an upside break above $17,000.<\/em><\/p>\n

Bitcoin is showing bullish signs above the $16,600 and $16,750 levels.
\nThe price is trading above $16,750 and the 100 hourly simple moving average.
\nThere is a crucial bullish trend line forming with support near $16,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a strong increase if there is a close above the $17,000 resistance.<\/p>\n

Bitcoin Price Remains Supported<\/h2>\n

Bitcoin price attempted a decent upward move<\/a> above the $16,800 resistance level. BTC even spiked towards the $17,000 resistance zone, but there was no clear upside break.<\/p>\n

A high was formed near $16,987 and the price started a downside correction. There was a move below the $16,800 support zone. The price declined below the 50% Fib retracement level of the upward move from the $16,615 swing low to $16,987 high.<\/p>\n

However, bitcoin price found support near the $16,750 level. The 61.8% Fib retracement level of the upward move from the $16,615 swing low to $16,987 high is acting as a support.<\/p>\n

There is also a crucial bullish trend line forming with support near $16,750 on the hourly chart of the BTC\/USD pair. The pair is stable above $16,750 and the 100 hourly simple moving average<\/a>. 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 clear move and close above the $17,000 resistance might start a strong increase in the near term. In the stated case, the price may perhaps rise towards the $17,550 level. Any more gains might call for a move towards the $18,000 level.<\/p>\n

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

If bitcoin price fails to clear the $17,000 resistance, it could start a downside correction. An immediate support on the downside is near the $16,800 level.<\/p>\n

The next major support is near the $16,750 level and the trend line. A downside break below the $16,750 support might send the price towards the $16,500 level. Any more losses might call for a test of $16,350.<\/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 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-15427","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\/15427","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=15427"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/15427\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=15427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=15427"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=15427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}