Bitcoin Price Stuck In Crucial Range, 2023 Breakout Looms

Bitcoin Price Stuck In Crucial Range, 2023 Breakout Looms

Bitcoin price is still trading in a range below the $17,000 resistance. BTC could witness a major breakout as we approach the New Year 2023.


  • Bitcoin failed to clear the $17,000 and $17,200 resistance levels.

  • The price is trading below $16,800 and the 100 hourly simple moving average.

  • There was a break below a major bullish trend line with support near $16,840 on the hourly chart of the BTC/USD pair (data feed from Kraken).

  • The pair could decline further if there is a clear move below the $16,550 support zone.

  • Bitcoin Price Revisits Support


    Bitcoin price made another attempt to clear the $17,000 resistance zone. However, BTC struggled to gain pace for a clear move above the $17,000 level.


    A high was formed near $16,962 before the price started a fresh decline. There was a clear move below the $16,800 support zone and the 100 hourly simple moving average. Besides, there was a break below a major bullish ..

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