In this episode of NewsBTC’s daily technical analysis videos, we flip the Bitcoin price chart upside down to get a unique perspective on the market. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): October 27, 2022 We also examine a weekly buy signal on BTCUSD using the Relative Strength Index, and show several examples of the signal’s effectiveness using Bitcoin and other assets. Related Reading: Bitcoin Bollinger Band Breakout Starts To Squeeze Shorts | BTCUSD Analysis October 26, 2022 Inverted Bitcoin Price Chart Could Suggest Bear Market Is Over When price action seems confusing, inverting the chart of any asset can help to remove bias and provide a clearer picture. Looking at BTCUSD from this perspective, it sure looks like a retest of horizontal support turned resistance. There is also an ongoing breakdown of an uptrend line. But remember, everything is upside down. On higher timeframes, diagonal downtrend resistance remains intact. We can also clearly see very similar price action across the last major “top” which is actually the 2018 bear market bottom. When you flip things right side up again, does Bitcoin really look all that bearish? Bitcoin bulls can turn that frown upside down | Source: BTCUSD on TradingView.com Related Reading: Are Bitcoin Bulls Ready To Stampede? | BTCUSD Analysis October 25, 2022 BTCUSD Weekly RSI Buy Signal Days Away From Confirming Moving alon...
