In this episode of NewsBTC’s daily technical analysis videos, we take a look at Bitcoin price action following today’s selloff in reaction to August CPI numbers.
Take a look at the video below:
VIDEO: Bitcoin Price Analysis (BTCUSD): September 13, 2022
Today just so happened to be August CPI numbers release day, so volatility was expected all around. The Consumer Price Index went up by 0.1% month over month from July, leading to an immediate selloff in anything that wasn’t the dollar.
BTCUSD Buy Signals At Risk After CPI Selloff
The selloff really was immediate. When looking at the one-minute candle, Bitcoin lost over 6% in value in a minute or two. Sell orders executed within seconds of CPI numbers being released.
The selloff is notable as it is putting many of the buy signals from the weekly open in yesterday’s video at risk. These signals appeared at the open of the weekly session, which means a close this week was always required to confirm the signals.
Quite the dump the second CPI numbers were released 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 take a look at Bitcoin price action following today’s selloff in reaction to August CPI numbers.
Take a look at the video below:
