In this episode of NewsBTC’s daily technical analysis videos, we examine how Bitcoin is trading against other currency pairs and not USD. We also look at BTC against WTI Crude Oil and the S&P 500. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 28, 2022 The market continues to be shaken up by the strength of the dollar. Following yesterday’s rally in BTC that was immediately wiped out, traders are even more hesitant to pull the trigger with the top cryptocurrency rising again. Related Reading: Bitcoin & The Hunt For A Green October | BTCUSD September 27, 2022 Bitcoin Daily Momentum Change Causes Chain Reaction Bitcoin daily has flipped bullish on the LMACD, setting off a chain reaction across a variety of timeframes. In terms of this chain reaction, we have a bullish crossover on the 3-day and the weekly timeframe. Both, especially the weekly, have been like bait, snapping back at bulls each time they attempt to turn the tides of momentum. Momentum causes a bullish chain reaction of crossovers | Source: BTCUSD on TradingView.com How BTC Fares Against Other World Currencies The DXY Dollar Currency Index is the dollar trading against a weighted basket of top national currencies. These currencies include the British pound sterling, the euro, the Canadian dollar, Japanese yen, Swedish krona, and Swiss franc. Due to the enormous shakeup and volatility in global currency mark...
