In this episode of NewsBTC’s daily technical analysis videos, we are looking again at the Bitcoin BTCUSD monthly chart now that the August monthly candle has closed and we finally have new data to analyze. Take a look at the video below for the good, the bad, and the ugly. VIDEO: Bitcoin Price Analysis (BTCUSD): September 1, 2022 In yesterday’s video, we focused on the nail-biter of a monthly close we had last night, where bulls were just barely able to hold onto support. With a new monthly candle open, today’s video attempts to see where the crypto market is headed, if the bottom is in, or if we’ll see an extended accumulation phase. Related Reading: WATCH: Waiting On The Bitcoin Monthly: Will Crypto Sink Or Soar? BTCUSD August 31, 2022 August Aftermath: How Did The Bitcoin Monthly Candle Close? Bitcoin managed to close above former all-time high resistance turned support. This is the good news of the analysis, as you could imagine. The bad news is that Bitcoin has lost what in the past has been referred to as the Coinbase line. Trend lines are subjective to a point and there is a chance that a longer-term trend line still held on by a hair. There are several trend lines to watch currently | Source: BTCUSD on TradingView.com Technical Update With Bollinger Bands, Ichimoku, And More One hopeful note is that the monthly stayed within the lower Bollinger Band. Closing outside it could have led to an ...
