In this episode of NewsBTC’s daily technical analysis videos, we provide a weekly wrap up on Bitcoin price action and look ahead into what might be a critical weekend for crypto.
Take a look at the video below:
VIDEO: Bitcoin Price Analysis (BTCUSD): September 16, 2022
Overall, there isn’t all that much more to report this week. Bitcoin is still struggling to maintain support and continues to creep lower and lower. We could get some sort of larger movement soon, however. The LMACD is close to crossing bearish on the daily. Sometimes, although the crossover looks all but guaranteed, the two lines can diverge upward and prices begin to climb.
Bears Uncross Bullish Weekly Signals, Bulls Have The Weekend To Counter
In fact, the bullish crossover reported earlier this week at the weekly open, has now been uncrossed by bears. The Relative Strength Index buy signal is also gone from weekly BTCUSD price charts. Bitcoin is also barely hanging onto horizontal weekly support. Losing it puts $14K in play.
There is also a potential diagonal trend line that might be demonstrating a flip of resistance turned support when drawn from the 2019 peak. The double-top then, could be a sign that a double bottom ultimately holds here. Or not.
Bears uncross bullish signals from Monday’s video Source: BTCUSD on TradingView.com
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Featured image from iStockPhoto, Charts from TradingView.com
In this episode of NewsBTC’s daily technical analysis videos, we provide a weekly wrap up on Bitcoin price action and look ahead into what might be a critical weekend for crypto.
Take a look at the video below:
