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, w...
