In this episode of NewsBTC’s daily technical analysis videos, we examine Bitcoin price action on Halloween night to see if the market is in for any tricks or treats. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): October 31, 2022 The forecast for Halloween night is cloudy with a chance of consolidation, according to the Ichimoku. As long as BTCUSD remains inside the cloud we shouldn’t expect many tricks, nor treats. The most recent rally took pause at the 100-moving average and could return to the 50-day MA for a retest before moving further. Losing both moving averages would send Bitcoin to goblin town. Related Reading: The Inverted Bitcoin Chart Bears Don’t Wanna See | BTCUSD Analysis October 27, 2022 Bulls Run Into Resistance, But Bears Have Yet To Scare Last night was a weekly close in Bitcoin, but the top cryptocurrency narrowly missed closing above the mid-Bollinger Band –– a sign that a bullish trend might be brewing that is now at risk of rejection. During the 2018 bear market, closing directly below the mid-BB led to further consolidation before a larger breakout and it could happen again. Rejection would lead to nightmarish results. Bitcoin bulls could be in danger | Source: BTCUSD on TradingView.com Related Reading: Bitcoin Bollinger Band Breakout Starts To Squeeze Shorts | BTCUSD Analysis October 26, 2022 Bitcoin Readies Final Nail In Crypto Winter Coffin Bitcoin ...
