In this episode of NewsBTC’s all-new daily technical analysis videos, we are once again looking at the Bitcoin price monthly chart as well as the monthly chart on Ethereum, and major stock market indexes that have a high correlation with crypto. Take a look at the video below. VIDEO: Bitcoin Price Analysis (BTCUSD): August 31, 2022 There isn’t much to report on since yesterday’s video, so all eyes remain on the pivotal monthly close in Bitcoin and other risk assets. As you learned in yesterday’s video, the BTCUSD monthly is on a TD9 buy setup, and could risk a lower low which could perfect the series. In the next video, we take one last look at monthly timeframes ahead of tonight’s close. Related Reading: WATCH: Bitcoin Versus DXY And The Dangerous TD9 Setup | Daily TA August 30, 2022 One Last Look At The Bitcoin Monthly Support Line (And Other Cryptocurrencies) Tonight’s August monthly close is critical across all risk assets – cryptocurrencies and stocks included. After staging an attempt at a recovery, Bitcoin, Ethereum, and major stock indices have been rejected back to support. Holding at this support level is the first step in a recovery, while losing it is a clearer sign of additional downside. In the chart below, we can see that all that is separating BTCUSD from disastrous new lows is one horizontal line – former all-time high resistance turned support. If the level fails to ho...
