In this episode of NewsBTC’s daily technical analysis videos, we examine a possible bottoming scenario in Bitcoin price based on a potential expanded flat correction and an ending diagonal. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): October 11, 2022 Bears and bulls are battling it out once again, each side trying to take control over daily momentum. Cycling through indicators like the Bollinger Bands and the Ichimoku show that Bitcoin isn’t looking very great at the moment. Only the Parabolic SAR is currently showing any type of indicator support below daily price action. Why Bitcoin Could Spend Much More Time Moving Sideways The LMACD shows that bulls still have the upper hand on the 3-day timeframe, and the last weekly candle closed with a confirmed bullish crossover on the same tool. The LMACD turning green from this level has put in the bottom during past bear markets. But on monthly timeframes, bears have turned the histogram red after opening pink. Pink is a sign that bearish momentum is weakening. Unless Bitcoin stages an extremely fast reversal like 2018, there could be many more months of sideways ahead. Comparing past bear market bottoms we can see that it took another 9 months after turning pink to flip green during the 2015 bear market, while it only took half that time during the 2018 bear market. With Bitcoin monthly momentum not even confirmed pink yet, the top cryptocurrency c...
