{"id":168662,"date":"2022-12-21T05:25:35","date_gmt":"2022-12-21T05:25:35","guid":{"rendered":"https:\/\/precoinnews.com\/?p=168662"},"modified":"2022-12-21T05:25:35","modified_gmt":"2022-12-21T05:25:35","slug":"bitcoin-price-analysis-btc-at-risk-of-another-crash","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-price-analysis-btc-at-risk-of-another-crash\/","title":{"rendered":"Bitcoin Price Analysis: BTC At Risk of Another Crash"},"content":{"rendered":"
Bitcoin price is struggling below $17,200 against the US Dollar. BTC might extend losses if it stays below the $17,200 and $17,350 resistance levels.<\/em><\/p>\n Bitcoin price started a fresh decline below the $17,800 zone. There was a steady decline below the $17,500 and $17,350 support levels.<\/p>\n The decline gained pace below the $17,200 level and the 55 simple moving average (4-hours). The bears even pushed the price below the $16,500 level. Besides, there was a break below a key bullish trend line with support near $17,180 on the 4-hours chart of the BTC\/USD pair.<\/p>\n The price again tested the $16,250 support zone and is now correcting losses. There was a minor increase above the $16,700 level. The price climbed above the 23.6% Fib retracement level of the recent decline from the $18,385 swing high to $16,273 low.<\/p>\n The price is now trading below $17,200 and the 55 simple moving average (4-hours). An immediate resistance on the upside is near the $17,200 level.<\/p>\n The next major resistance might near the $17,350 zone. It is close to the 50% Fib retracement level of the recent decline from the $18,385 swing high to $16,273 low. The first major resistance is near the $17,500 level. A clear move above the $17,500 level might send the price towards $18,000, above which the price might rise towards the $18,500 level.<\/p>\n Any more gains might push the price towards the $19,000 zone. If there is no upside break, the price might continue to decline below $16,700. The next key support is near the $16,500 level, below which the price might accelerate lower.<\/p>\n In the stated case, the price could decline towards the $16,200 level. Any more losses might send the price towards the $15,500 level.<\/p>\n <\/p>\n Bitcoin Price<\/p>\n Looking at the chart, bitcoin price is clearly trading below $17,200 and the 55 simple moving average (4-hours). Overall, the price could start another decline if it stays below the $17,350 resistance zone.<\/p>\n 4 hours MACD \u2013 The MACD is now gaining momentum in the bearish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI is now near the 50 level.<\/p>\n Key Support Levels \u2013 $16,500 and $16,200.<\/p>\n Key Resistance Levels \u2013 $17,200, $17,350 and $17,500.<\/p>\nBitcoin Price Analysis<\/h2>\n
Technical Indicators<\/h2>\n