bereajoy:Fresh Decline in BTC?

 If bitcoin fails to gain pace above the $17,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $16,600 level and the 100 hourly SMA.

The next major support is near the $16,350 zone. The main support is near the $16,000 zone. A clear move below the $16,000 support might spark another major decline in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $16,350, followed by $16,000.
Major Resistance Levels – $16,750, $17,000 and $17,500.

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