Name Symbol Market Market Cap ($) Algorithm
TRON TRXUSD Crypto 5,850,124,109 Not Mineable
  Price Change Price Change % Current Price Bid Price Offer
  -0.000509 -0.79% 0.0637 0.063702 0.063736
High Price Low Price Open Price Prev. Close 52 Week Range
0.064572 0.062622 0.064212 0.064209 0.001130 - 0.093388
Exchange Last Trade Size Trade Price Currency
KRKN 16:55:46 419.42 0.0637 USD
Price x Volume Volume Base Symbol Related Pairs
531,758.95 8,593,485.71 TRX TRXEUR TRXGBP TRXBTC

Is Bitcoin ‘Uptober’ About To Begin? | BTCUSD Analysis October 3, 2022

03/10/2022 9:25pm


In this episode of NewsBTC’s daily technical analysis videos, we review a variety of technical and fundamental signals on the Bitcoin price monthly chart to see if we are getting closer to a bottom in crypto. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): October 3, 2022 The monthly closed with a doji candle, which typically forms at a point of indecision before either a reversal, or strong continuation. Past monthly dojis have commonly preceded short- and long-term turning points in crypto. The September monthly candle was the first ever monthly close below Bitcoin’s former all time high set back in December of 2017.  Although Bitcoin was clearly overvalued back then, it is hard to imagine in today’s world that the top cryptocurrency is still overvalued a full five years later. Related Reading: Bitcoin And The Golden Ratio Bottom | BTCUSD Analysis September 29, 2022 Bearish BTC Momentum Begins To Wane… Maybe The October monthly candle opened with pink on the LMACD histogram. This signal in the past put bear markets back into hibernation mode for at least a year or more, and suggests a major shift in momentum. But October must close bullish to confirm and cement the change in color on the Bitcoin monthly chart. The monthly Relative Strength Index remains the lowest in Bitcoin history, but is grinding along the bottom of a downward sloping channel. The same downward slope has connected past RSI peaks. Bitcoin bearish momentum might be weakening | Source: BTCUSD on Bitcoin Investors Could Be Getting Over Their Loss The Coppock Curve has also finally touched down at the same level where past bear market bottoms have occurred. Time cycle tools also suggest there could be some rhythmic behavior to Bitcoin that is about to unfold. The Coppock Curve was created by E.S.C. Coppock, who was asked by his church to identify long-term buying opportunities for investors. It is based on the idea that it takes between 11 and 14 months for a bear market to end, as that’s roughly how long it takes for a human to get over mourning a significant loss. Bear markets take at minimum 14 months | Source: BTCUSD on Related Reading: Bitcoin & The Global Currency Meltdown | BTCUSD September 28, 2022 Did Satoshi Call The Bottom In Crypto? Another possible bottom signal isn’t technical, but fundamental. Bitcoin price has now been in the lower range of the cost of production at about the same length of time as the 2018 bear market bottom. This is notable, because in commodities, prices bottom out near the cost of production. Even Bitcoin’s creator, Satoshi Nakamoto spoke of this. “The price of any commodity tends to gravitate toward the production cost. If the price is below cost, then production slows down. If the price is above cost, profit can be made by generating and selling more. At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price.” Has Bitcoin bottomed at the cost of production? | Source: BTCUSD on Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here to access the free educational program. Here is a $49 discount pass to 21 Days To Better Crypto Trading by @elliottwaveintl. It gets you instant access to 3 learning resources on how to trade crypto using EW, the Crypto Trader’s Classroom service, & on Oct.5, access to the Crypto Pro Service ➡️ — Tony "The Bull" Spilotro (@tonyspilotroBTC) September 28, 2022 Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from

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