Advertisement
  • Home
  • Bitcoin
  • Cardano
  • Dogecoin
  • Ethereum
  • Ripple
  • Litecoin
No Result
View All Result
No Result
View All Result
Home Bitcoin

Bitcoin And The Dollar Reach Inverse Inflection Points | BTCUSD November 1, 2022

November 2, 2022
in Bitcoin
Bitcoin And The Dollar Reach Inverse Inflection Points | BTCUSD November 1, 2022

In this episode of NewsBTC’s day by day technical evaluation movies, we look at Bitcoin value following the October month-to-month shut and new November candle open.

Take a take a look at the video beneath:

VIDEO: Bitcoin Price Analysis (BTCUSD): November 1, 2022

BTC Cost of Production On Par With 2018 Bear Market

To begin, we’re trying on the value to provide every BTC. Bitcoin is now nearly on par with the 2018 bear marketplace for the longest time beneath the price of manufacturing metric. But this additionally might recommend at the least one other month of sideways value motion.

Bitcoin is beneath the price to provide every coin for many miners | Source: BTCUSD on TradingView.com

Related Reading: The Inverted Bitcoin Chart Bears Don’t Wanna See | BTCUSD Analysis October 27, 2022

Bitcoin Momentum Is Building Up From Lows

Monthly momentum isn’t turning over as quick because it did in the course of the 2018 bear market, leaving some threat remaining that extra lows are attainable. If the at present pink histogram closes purple once more, anticipate a much bigger drop.

Monthly stochastic can be flipping bullish. Past crossovers have pin-pointed earlier bottoms, however there received’t be any bull run till the software rises out of oversold territory.

BTCUSD_2022-11-01_13-45-39

Will We See A Cyclical Conclusion In The Dollar?

On the left, we’ve BTCUSD month-to-month utilizing the Fisher Transform. The statistics-based technical indicator is used to seek out actual turning factors in market cycles. Not solely is the month-to-month Fisher on Bitcoin at a degree the place its value motion bottomed previously, however every backside has additionally recurred cyclically with gorgeous precision.

To the proper, the Dollar Currency Index is displaying a topping sign inverse of Bitcoin’s bottoming sign, all whereas on the most excessive deviation in all the historical past of the index on month-to-month timeframes.

If the DXY pauses or reverses from right here, Bitcoin might see a resumption of its bull market. If the greenback finds the momentum to maintain climbing, the cryptocurrency market might see new lows.  DXY_2022-11-01_13-44-56

ShareTweetShare

Related News

U.S. Institutions Are Driving Bitcoin Prices, Matrixport Research
Bitcoin

U.S. Institutions Are Driving Bitcoin Prices, Matrixport Research

January 28, 2023
Bitcoin Exchange Outflows Reach Highest Value Since FTX Crash, Bullish?
Bitcoin

Bitcoin Exchange Outflows Reach Highest Value Since FTX Crash, Bullish?

January 27, 2023
Bitcoin Investors Turn Greedy For First Time Since March 2022
Bitcoin

Bitcoin Investors Turn Greedy For First Time Since March 2022

January 27, 2023
Bitcoin Hash Rate Registers New Highs, A Selloff Imminent?
Bitcoin

Bitcoin Hash Rate Registers New Highs, A Selloff Imminent?

January 27, 2023
Bitcoin Supply In Loss Hits A 9-Month Low
Bitcoin

Bitcoin Supply In Loss Hits A 9-Month Low

January 27, 2023
CryptoQuant’s Bitcoin PnL Index Forms Bullish Crossover
Bitcoin

CryptoQuant’s Bitcoin PnL Index Forms Bullish Crossover

January 26, 2023

Most Read

Mid Cap Crypto Coins Lead In July, Best Way To Weather The Winter?

Mid Cap Crypto Coins Lead In July, Best Way To Weather The Winter?

August 21, 2022
Bitcoin Daily Exchange Net Flows Shows Sell-Offs Have Not Subsided

Bitcoin Daily Exchange Net Flows Shows Sell-Offs Have Not Subsided

August 21, 2022
Block by block: Blockchain know-how is remodeling the actual property market

Block by block: Blockchain know-how is remodeling the actual property market

August 21, 2022
If Ethereum Falls Below $1,000, Here’s The Next Support

If Ethereum Falls Below $1,000, Here’s The Next Support

August 21, 2022
Ethereum Liquidations Ramp Up As Price Struggles To Hold $1,100

Ethereum Liquidations Ramp Up As Price Struggles To Hold $1,100

August 21, 2022
  • Home
  • DMCA
  • Terms of Use
  • Privacy Policy
  • Cookie Policy
  • Contact

Copyright © 2022 Randomlemons | All Rights Reserved

No Result
View All Result
  • Home
  • Bitcoin
  • Cardano
  • Dogecoin
  • Ethereum
  • Ripple
  • Litecoin

Copyright © 2022 Randomlemons | All Rights Reserved