Bitcoin Price Action Falls Flat BTCUSD Analysis October 18, 2022

In this episode of NewsBTC’s daily technical analysis videos, we are once again examining a possible expanded flat correction in Bitcoin. Once the correction has completed, the bull market could resume.

Take a look at the video below:

VIDEO: Bitcoin Price Analysis (BTCUSD): October 18, 2022

In addition to the video highlights listed below the video, we also analyze BTCUSD using the Ichimoku, Bollinger Bands, SuperTrend, TD Sequential, and other technical tools.

Three Strikes: BTCUSD Rejected From 50-Day Moving Average

BTCUSD daily price action was once again rejected from the 50-day moving average. This is the third rejection since September, making the 50MA a critical line in the sand to pass before any chance of further upside.

Zooming out and comparing the 50MA and its behavior around the 2018 bear market bottom, we can see that breaking through it is the key to bulls regaining control on daily timeframes. Given the close proximity of the 100-day moving average in yellow, the next target would be the red, 200-day moving average located at around $26K.

If Bitcoin can break the 50-MA and 100-MA, $26K is next Source: BTCUSD on TradingView.com

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Featured image from iStockPhoto, Charts from TradingView.com

In this episode of NewsBTC’s daily technical analysis videos, we are once again examining a possible expanded flat correction in Bitcoin. Once the correction has completed, the bull market could resume.

Take a look at the video below:

In addition to the video highlights listed below the video, we also analyze BTCUSD using the Ichimoku, Bollinger Bands, SuperTrend, TD Sequential, and other technical tools.

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