WATCH: Bitcoin Brutalized After August CPI Data Release | BTCUSD September 13, 2022
2022年9月14日 - 2:05AM
NEWSBTC
In this episode of NewsBTC’s daily technical analysis videos, we
take a look at Bitcoin price action following today’s selloff in
reaction to August CPI numbers. Take a look at the video below:
VIDEO: Bitcoin Price Analysis (BTCUSD): September 13, 2022
Today just so happened to be August CPI numbers release day, so
volatility was expected all around. The Consumer Price Index went
up by 0.1% month over month from July, leading to an immediate
selloff in anything that wasn’t the dollar. Related Reading: WATCH:
Bitcoin Weekly Chart Fires Bottom Signals At Open | BTCUSD
September 12, 2022 BTCUSD Buy Signals At Risk After CPI Selloff The
selloff really was immediate. When looking at the one-minute
candle, Bitcoin lost over 6% in value in a minute or two. Sell
orders executed within seconds of CPI numbers being released. The
selloff is notable as it is putting many of the buy signals from
the weekly open in yesterday’s video at risk. These signals
appeared at the open of the weekly session, which means a close
this week was always required to confirm the signals. Quite the
dump the second CPI numbers were released | Source: BTCUSD on
TradingView.com Bitcoin Bottom Fractal Features Similar Selloff
Ahead Of Breakout The 2018 Bitcoin bear market bottom had a selloff
that was very similar to today’s price action and resulting
candlestick. Using nothing more than an arrow placed at both of
these key moments, when zoomed out on the weekly the selloffs both
occurred just as these important buy signals were triggered on
weekly timeframes. The weekly buy signals are now at risk | Source:
BTCUSD on TradingView.com Related Reading: WATCH: Bitcoin Bottoms
As Easy As Pi? | BTCUSD September 9, 2022 Could The Top Crypto
Close The Year Back At $40K? The timing of the pullback today is
eerily similar to the 2018 bear market bottom, according to a
fractal placed below the current price action. In this
instance, Bitcoin never made new lows, but instead simply moved
sideways for several more weeks to draw in more short interest. The
cryptocurrency then rallied by more than 300% in three months. If
the fractal continues to be followed, Bitcoin price could end the
year at around $40,000 per coin. Will BTC close above $40K to end
the year? | Source: BTCUSD on TradingView.com More Downside
Instead? What The Bearish Scenario Looks Like Of course we’d be
foolish to rule out more downside considering the bearish macro
backdrop. Taking a fractal from the last correction, we could
have a roadmap for the last leg down. The fractal has Bitcoin price
terminating the pattern only a few hundred dollars away from the
2019 peak and would complete an expanded flat pattern. What
another leg down could look like | Source: BTCUSD on
TradingView.com Learn crypto technical analysis yourself with the
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technical analysis education. Please note: Content
is educational and should not be considered investment
advice. Featured image from iStockPhoto, Charts from
TradingView.com
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