In this episode of NewsBTC’s all-new daily technical analysis videos, we are looking at the Bitcoin price monthly chart and the DXY Dollar Currency Index ahead of the monthly close. Take a look at the video below. VIDEO: Bitcoin Price Analysis (BTCUSD): August 30, 2022 We are coming down to the wire here in the month of August, with less than 48 hours remaining until the monthly candle close. The month is especially critical for a number of pivotal reasons of which we’ll review in the video and in the text and charts below. Related Reading: WATCH: Can Litecoin Lead A Crypto Recovery (Again?) | Daily TA August 29, 2022 The Terrifying TD9 Buy Setup On Monthly Timeframes The first and most important factor weighing over the next couple of days in the crypto market, is a looming TD9 buy setup. The TD Sequential is a market timing indicator. Simply reaching a 9-count is enough for a buy setup. However, the signal is much stronger when the series is perfected. This can only happen with a sweep of the current low below around $17,500. It would also require a breakdown of all-time high resistance turned support and a breakdown of a decade-long monthly trend line. A perfected TD9 setup would result in losing this trend line | Source: BTCUSD on TradingView.com Could A Hidden Bullish Divergence Save The Day? Bitcoin price continues to rest on the lower Bollinger Band – a first for the first ever cryptocurrency on the high...
