In this episode of NewsBTC’s daily technical analysis videos, we are looking at the best chance Bitcoin and the rest of crypto has had for a bullish week in a long time. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): October 17, 2022 There continues to be not much movement in crypto, with Bitcoin trading at around $19,500 currently. But the lack of movement is welcome after nearly a year of falling prices. Related Reading: Bitcoin Price Bounces After CPI Dump | BTCUSD Analysis October 13, 2022 Bitcoin Gears Up For Big Move, But Which Direction? Despite the lack of price action, daily timeframes are showing some signs of an impending breakout, possibly to the upside. The Bollinger Bands are once again tight as can be, which is a signal a big move is on the way. Bitcoin price is trying to push above the middle-BB which would increase the probability of upside if the bands begin to lift. The daily LMACD is also just below the zero line. Pushing above it turns Bitcoin fully bullish on the daily timeframe. The Bollinger Bands suggest a big move is coming | Source: BTCUSD on TradingView.com BTCUSD Downtrend Line Broken As Weekly Momentum Strengthens Weekly momentum has also closed bullish for the second week in a row, opening with green momentum strengthening on the LMACD histogram. If bulls can close a third week in a row, a new uptrend should materialize. Note how during the last, failed at...
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