In this episode of NewsBTC’s daily technical analysis videos, we examine the reason for today’s volatility and rally rejection. We also look ahead at the factors that could give Bitcoin price a green October. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 27, 2022 This morning, Bitcoin began with a large, more than 5% move to the upside, taking the top cryptocurrency to back over $20,000. Before bulls could at all breath a sigh of relief, bears swatted the rally back down a full thousand plus dollars to just under $19,000. Related Reading: Bitcoin Shows Resilience In Dollar-Driven Bloodbath | BTCUSD September 26, 2022 Bears And Bulls Battle Over Control Of Momentum The strong showing by both bears and bulls makes sense, given the potential for a bullish crossover in daily momentum on the LMACD. Crossovers in the past have been used as bait to liquidate over-eager traders and it has happened once again. The severity of the showdown is due to the same situation happening across several timeframes. The 3-Day LMACD also shows momentum teetering between bear and bull along the zero line. BTC compared to other asset classes | Source: BTCUSD on TradingView.com Today’s Rejection Resembles Crypto Winter Bottom On weekly timeframes, there is also such a potential bullish crossover on the LMACD. Bears have repeatedly defended this signal. Before the rejection today, Bitcoin w...
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