{"id":11540,"date":"2022-11-08T22:00:42","date_gmt":"2022-11-09T02:00:42","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=11540"},"modified":"2022-11-08T22:00:42","modified_gmt":"2022-11-09T02:00:42","slug":"bitcoin-bloodbath-takes-crypto-to-new-bear-market-lows-btcusd-november-8-2022","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/08\/bitcoin-bloodbath-takes-crypto-to-new-bear-market-lows-btcusd-november-8-2022\/","title":{"rendered":"Bitcoin Bloodbath Takes Crypto To New Bear Market Lows | BTCUSD November 8, 2022"},"content":{"rendered":"

In this episode of NewsBTC\u2019s daily technical analysis videos, we examine the bloodbath across crypto today<\/a> and the new record low for this Bitcoin bear market.<\/p>\n

Take a look at the video below:<\/p>\n

VIDEO: Bitcoin Price Analysis (BTCUSD): November 8, 2022<\/h2>\n

It was a highly volatile day in crypto markets, led by a battle between FTX and Binance<\/a> that ultimately might end with Binance owning FTX.com. The two company\u2019s CEO\u2019s public spat caused the already fearful crypto market to collapse further. As a result, Bitcoin price made a new bear market lower low, setting a new record low for all of 2022 at the same time.\u00a0<\/p>\n

Bulls Demoralized, Bound To Ignore Exhaustion Signal<\/p>\n

It is hard to imagine much hope for bulls at this very moment. After months of consolidation and a failed attempt at a breakout, bears appear to have regained control. Of the few notable bullish signals \u2013 if any remain at all \u2013 the TD sequential on daily timeframes has triggered a perfected TD 13 countdown setup, which could indicate that today\u2019s massacre was a buy and the bear trend has been exhausted.<\/p>\n

Today\u2019s uptick in trading volume seems to confirm more downside \u2013 or is the heavy volume the capitulation we have been waiting for instead?<\/p>\n\n

Will bulls ignore these exhaustion signs? | Source: BTCUSD on TradingView.com<\/a><\/p>\n

Related Reading: MATIC On The Move After Polygon Tapped By META | MATICUSD November 3, 2022<\/a><\/p>\n

Bitcoin Futures Goes Back In Time To Beginning Of 2018 Bear Market<\/p>\n

On BTC CME Futures, Bitcoin price touched down on the only weekly support that exists on the way down. Because CME futures launched after the top cryptocurrency\u2019s 2017 peak, the price chart began with a bear market in Bitcoin.<\/p>\n

On the yearly timeframe, we can see that the price candle touched exactly at the tip top of the wick representing the 2018 yearly high.<\/p>\n\n

BTC Futures returns to 2018 yearly high | Source: BTCUSD on TradingView.com<\/a><\/p>\n

Related Reading: Litecoin Recovery To End Ongoing Crypto Darkness? LTCUSD November 2, 2022<\/a><\/p>\n

Why The Log Curve Is The Last Hope For Crypto Bulls<\/p>\n

For bulls looking for something \u2013 anything \u2013 to find solace in after today\u2019s bloodbath in crypto, there is a chance that this is the bottom based on nothing more than the log growth curve.<\/p>\n

Drawn from wick to wick, there is no further room for BTCUSD to go downward much further. Only a few times in history has the exact bottom line been touched and each time has turned into the greatest bull runs on record.<\/p>\n

With no room left at the bottom of the log growth curve, what in the world will happen next?<\/p>\n\n

There is no room left below the log growth curve | Source: BTCUSD on TradingView.com<\/a><\/p>\n

Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here<\/a> to access the free educational program.<\/p>\n

Follow @TonySpilotroBTC on Twitter<\/a> or join\u00a0the TonyTradesBTC Telegram<\/a> for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice.<\/p>\n

Featured image from iStockPhoto, Charts from TradingView.co<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

In this episode of NewsBTC\u2019s daily technical analysis videos, we examine the bloodbath across crypto today<\/a> and the new record low for this Bitcoin bear market.<\/p>\n

Take a look at the video below:<\/p>\n

VIDEO: Bitcoin Price Analysis (BTCUSD): November 8, 2022<\/h2>\n

It was a highly volatile day in crypto markets, led by a battle between FTX and Binance<\/a> that ultimately might end with Binance owning FTX.com. The two company\u2019s CEO\u2019s public spat caused the already fearful crypto market to collapse further. As a result, Bitcoin price made a new bear market lower low, setting a new record low for all of 2022 at the same time.\u00a0<\/p>\n

Bulls Demoralized, Bound To Ignore Exhaustion Signal<\/p>\n

It is hard to imagine much hope for bulls at this very moment. After months of consolidation and a failed attempt at a breakout, bears appear to have regained control. Of the few notable bullish signals \u2013 if any remain at all \u2013 the TD sequential on daily timeframes has triggered a perfected TD 13 countdown setup, which could indicate that today\u2019s massacre was a buy and the bear trend has been exhausted.<\/p>\n

Today\u2019s uptick in trading volume seems to confirm more downside \u2013 or is the heavy volume the capitulation we have been waiting for instead?<\/p>\n

Will bulls ignore these exhaustion signs? | Source: BTCUSD on TradingView.com<\/a><\/p>\n

Related Reading: MATIC On The Move After Polygon Tapped By META | MATICUSD November 3, 2022<\/a><\/p>\n

Bitcoin Futures Goes Back In Time To Beginning Of 2018 Bear Market<\/p>\n

On BTC CME Futures, Bitcoin price touched down on the only weekly support that exists on the way down. Because CME futures launched after the top cryptocurrency\u2019s 2017 peak, the price chart began with a bear market in Bitcoin.<\/p>\n

On the yearly timeframe, we can see that the price candle touched exactly at the tip top of the wick representing the 2018 yearly high.<\/p>\n

BTC Futures returns to 2018 yearly high | Source: BTCUSD on TradingView.com<\/a><\/p>\n

Related Reading: Litecoin Recovery To End Ongoing Crypto Darkness? LTCUSD November 2, 2022<\/a><\/p>\n

Why The Log Curve Is The Last Hope For Crypto Bulls<\/p>\n

For bulls looking for something \u2013 anything \u2013 to find solace in after today\u2019s bloodbath in crypto, there is a chance that this is the bottom based on nothing more than the log growth curve.<\/p>\n

Drawn from wick to wick, there is no further room for BTCUSD to go downward much further. Only a few times in history has the exact bottom line been touched and each time has turned into the greatest bull runs on record.<\/p>\n

With no room left at the bottom of the log growth curve, what in the world will happen next?<\/p>\n

There is no room left below the log growth curve | Source: BTCUSD on TradingView.com<\/a><\/p>\n

Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here<\/a> to access the free educational program.<\/p>\n

Follow @TonySpilotroBTC on Twitter<\/a> or join\u00a0the TonyTradesBTC Telegram<\/a> for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice.<\/p>\n

Featured image from iStockPhoto, Charts from TradingView.co<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-11540","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/11540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=11540"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/11540\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=11540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=11540"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=11540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}