Crypto Correlation: Comparing Bitcoin And The S&P 500 Flat Correction

Comparing past crypto cycles shows there is a clear pattern, and Bitcoin seems to be nowhere near the top right now. Bitcoin researcher Dor Shaher has pointed out on Twitter that there is consistency in the way correction periods have played out in previous cycles. Bitcoin Price Growth Since Cycle Low Here is a chart […]

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. Related Reading: A Bullish Week In Bitcoin On The Way? BTCUSD Analysis October 17, 2022 Three Strikes: BTCUSD Rejected From....

Altcoin prices have stopped at their respective key levels, after moving along upward trends. Such stops could provoke prolonged downward corrections. ETH/USD. Ethereum has continued its upward trend. A turn at a key level of $9.7 did not happen. Thus, Ethereum’s price has formed a powerful upward momentum, reaching the maximum of March. At this point, a flat is forming. For a deeper correction to continue, Ethereum’s price has to exit that flat. The market will decide on the direction of the next wave at the level of $12.9. Either the whole downward movement is a correction toward the....

Bitcoin has formed a flat above a key level. The probability of the movement continuing is increasing. The main trend is upward. The current upward trend has not been disrupted yet. Bitcoin’s price has formed a flat above the $518 resistance line. The resistance, which we have found earlier, has been confirmed several times already. These upward rebounds from $518 do confirm that there is a correction towards the upward trend. The market is nearing a resolution, as the probability of a new trend grows with a new wave of the flat. Bitcoin’s price reaching a new diagonal channel is also....

After the end of its short-term upward trend, Ethereum is continuing to form a medium-term flat. The price is close to the bottom limit, from which an upward rebound is also likely. Will the medium-term upward trend continue? Ethereum’s price is approaching the bottom limit of the flat. That means that the market will soon reach a decision point for the direction of the coming weekly trend. The minimal correction target for the whole upward trend, which started at $10, is reached. Thus, the market will decide between two options at the bottom limit of the flat: either a correction of a....