Bitcoin Price Trend Overwhelmingly Negative, Bears Target $13K

Nov 22, 2022 04:00 am Cryptocurrency 141

Bitcoin price extended losses and retested the $15,800 support. BTC could continue to move down towards the $15,000 and $14,000 levels.

Bitcoin started a fresh decline below the $16,000 and $15,800 levels.

The price is trading below $16,400 and the 100 hourly simple moving average.

There is a major bearish trend line forming with resistance near $16,150 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair remains at a risk of more losses towards the $15,000 level or even $14,000.

Bitcoin Price Revisit $15,500

Bitcoin price started a fresh decline from the $17,000 resistance. BTC gained bearish momentum after it settled below the $16,500 support zone.

There was a move below the $16,000 level and the 100 hourly simple moving average. The bears were able to push the price towards the key $15,500 support zone. A low is formed near $15,470 and the ..

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