{"id":7560,"date":"2022-09-13T17:54:40","date_gmt":"2022-09-13T21:54:40","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=7560"},"modified":"2022-09-13T17:54:40","modified_gmt":"2022-09-13T21:54:40","slug":"watch-bitcoin-brutalized-after-august-cpi-data-release-btcusd-september-13-2022","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/09\/13\/watch-bitcoin-brutalized-after-august-cpi-data-release-btcusd-september-13-2022\/","title":{"rendered":"WATCH: Bitcoin Brutalized After August CPI Data Release | BTCUSD September 13, 2022"},"content":{"rendered":"

In this episode of NewsBTC\u2019s daily technical analysis videos<\/a>, we take a look at Bitcoin price action following today\u2019s selloff in reaction to August CPI numbers.<\/p>\n

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

VIDEO: Bitcoin Price Analysis (BTCUSD):\u00a0September 13, 2022<\/p>\n

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\u2019t the dollar.<\/p>\n

BTCUSD Buy Signals At Risk After CPI Selloff<\/p>\n

The selloff really was immediate. When looking at the one-minute candle<\/a>, Bitcoin lost over 6% in value in a minute or two. Sell orders executed within seconds of CPI numbers being released.<\/p>\n

The selloff is notable as it is putting many of the buy signals from the weekly open in yesterday\u2019s video<\/a> 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.<\/p>\n\n

Quite the dump the second CPI numbers were released | Source: BTCUSD on TradingView.com<\/a>
\nBitcoin Bottom Fractal Features Similar Selloff Ahead Of Breakout<\/p>\n

The 2018 Bitcoin bear market bottom had a selloff that was very similar to today\u2019s price action and resulting candlestick.<\/p>\n

Using nothing more than an arrow placed at both of these key moments, when zoomed out on the weekly the selloffs both occurred just as these important buy signals<\/a> were triggered on weekly timeframes.<\/p>\n\n

The weekly buy signals are now at risk | Source: BTCUSD on TradingView.com<\/a><\/p>\n

Related Reading: WATCH: Bitcoin Bottoms As Easy As Pi? | BTCUSD September 9, 2022<\/a><\/p>\n

Could The Top Crypto Close The Year Back At $40K?<\/p>\n

The timing of the pullback today is eerily similar to the 2018 bear market bottom, according to a fractal placed below the current price action.\u00a0In this instance, Bitcoin never made new lows, but instead simply moved sideways for several more weeks to draw in more short interest. <\/p>\n

The cryptocurrency then rallied by more than 300% in three months<\/a>. If the fractal continues to be followed, Bitcoin price could end the year at around $40,000 per coin.<\/p>\n\n

Will BTC close above $40K to end the year? | Source: BTCUSD on TradingView.com<\/a>
\nMore Downside Instead? What The Bearish Scenario Looks Like<\/p>\n

Of course we\u2019d be foolish to rule out more downside considering the bearish macro backdrop.\u00a0Taking a fractal from the last correction, we could have a roadmap for the last leg down. <\/p>\n

The fractal has Bitcoin price terminating the pattern only a few hundred dollars away from the 2019 peak and would complete an expanded flat pattern<\/a>.\u00a0<\/p>\n\n

What another leg down could look like | 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.com<\/p>\n

BTCUSD Buy Signals At Risk After CPI Selloff<\/p>\n

The selloff really was immediate. When looking at the one-minute candle<\/a>, Bitcoin lost over 6% in value in a minute or two. Sell orders executed within seconds of CPI numbers being released.<\/p>\n

The selloff is notable as it is putting many of the buy signals from the weekly open in yesterday\u2019s video<\/a> 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.<\/p>\n\n

Quite the dump the second CPI numbers were released | Source: BTCUSD on TradingView.com<\/a>
\nBitcoin Bottom Fractal Features Similar Selloff Ahead Of Breakout<\/p>\n

The 2018 Bitcoin bear market bottom had a selloff that was very similar to today\u2019s price action and resulting candlestick.<\/p>\n

Using nothing more than an arrow placed at both of these key moments, when zoomed out on the weekly the selloffs both occurred just as these important buy signals<\/a> were triggered on weekly timeframes.<\/p>\n\n

The weekly buy signals are now at risk | Source: BTCUSD on TradingView.com<\/a><\/p>\n

Related Reading: WATCH: Bitcoin Bottoms As Easy As Pi? | BTCUSD September 9, 2022<\/a><\/p>\n

Could The Top Crypto Close The Year Back At $40K?<\/p>\n

The timing of the pullback today is eerily similar to the 2018 bear market bottom, according to a fractal placed below the current price action.\u00a0In this instance, Bitcoin never made new lows, but instead simply moved sideways for several more weeks to draw in more short interest. <\/p>\n

The cryptocurrency then rallied by more than 300% in three months<\/a>. If the fractal continues to be followed, Bitcoin price could end the year at around $40,000 per coin.<\/p>\n\n

Will BTC close above $40K to end the year? | Source: BTCUSD on TradingView.com<\/a>
\nMore Downside Instead? What The Bearish Scenario Looks Like<\/p>\n

Of course we\u2019d be foolish to rule out more downside considering the bearish macro backdrop.\u00a0Taking a fractal from the last correction, we could have a roadmap for the last leg down. <\/p>\n

The fractal has Bitcoin price terminating the pattern only a few hundred dollars away from the 2019 peak and would complete an expanded flat pattern<\/a>.\u00a0<\/p>\n\n

What another leg down could look like | 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.com<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

In this episode of NewsBTC\u2019s daily technical analysis videos<\/a>, we take a look at Bitcoin price action following today\u2019s selloff in reaction to August CPI numbers.<\/p>\n

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

VIDEO: Bitcoin Price Analysis (BTCUSD):\u00a0September 13, 2022<\/p>\n

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\u2019t the dollar.<\/p>\n

BTCUSD Buy Signals At Risk After CPI Selloff<\/p>\n

The selloff really was immediate. When looking at the one-minute candle<\/a>, Bitcoin lost over 6% in value in a minute or two. Sell orders executed within seconds of CPI numbers being released.<\/p>\n

The selloff is notable as it is putting many of the buy signals from the weekly open in yesterday\u2019s video<\/a> 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.<\/p>\n

Quite the dump the second CPI numbers were released | Source: BTCUSD on TradingView.com<\/a>
\nBitcoin Bottom Fractal Features Similar Selloff Ahead Of Breakout<\/p>\n

The 2018 Bitcoin bear market bottom had a selloff that was very similar to today\u2019s price action and resulting candlestick.<\/p>\n

Using nothing more than an arrow placed at both of these key moments, when zoomed out on the weekly the selloffs both occurred just as these important buy signals<\/a> were triggered on weekly timeframes.<\/p>\n

The weekly buy signals are now at risk | Source: BTCUSD on TradingView.com<\/a><\/p>\n

Related Reading: WATCH: Bitcoin Bottoms As Easy As Pi? | BTCUSD September 9, 2022<\/a><\/p>\n

Could The Top Crypto Close The Year Back At $40K?<\/p>\n

The timing of the pullback today is eerily similar to the 2018 bear market bottom, according to a fractal placed below the current price action.\u00a0In this instance, Bitcoin never made new lows, but instead simply moved sideways for several more weeks to draw in more short interest. <\/p>\n

The cryptocurrency then rallied by more than 300% in three months<\/a>. If the fractal continues to be followed, Bitcoin price could end the year at around $40,000 per coin.<\/p>\n

Will BTC close above $40K to end the year? | Source: BTCUSD on TradingView.com<\/a>
\nMore Downside Instead? What The Bearish Scenario Looks Like<\/p>\n

Of course we\u2019d be foolish to rule out more downside considering the bearish macro backdrop.\u00a0Taking a fractal from the last correction, we could have a roadmap for the last leg down. <\/p>\n

The fractal has Bitcoin price terminating the pattern only a few hundred dollars away from the 2019 peak and would complete an expanded flat pattern<\/a>.\u00a0<\/p>\n

What another leg down could look like | 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.com<\/p>\n

BTCUSD Buy Signals At Risk After CPI Selloff<\/p>\n

The selloff really was immediate. When looking at the one-minute candle<\/a>, Bitcoin lost over 6% in value in a minute or two. Sell orders executed within seconds of CPI numbers being released.<\/p>\n

The selloff is notable as it is putting many of the buy signals from the weekly open in yesterday\u2019s video<\/a> 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.<\/p>\n

Quite the dump the second CPI numbers were released | Source: BTCUSD on TradingView.com<\/a>
\nBitcoin Bottom Fractal Features Similar Selloff Ahead Of Breakout<\/p>\n

The 2018 Bitcoin bear market bottom had a selloff that was very similar to today\u2019s price action and resulting candlestick.<\/p>\n

Using nothing more than an arrow placed at both of these key moments, when zoomed out on the weekly the selloffs both occurred just as these important buy signals<\/a> were triggered on weekly timeframes.<\/p>\n

The weekly buy signals are now at risk | Source: BTCUSD on TradingView.com<\/a><\/p>\n

Related Reading: WATCH: Bitcoin Bottoms As Easy As Pi? | BTCUSD September 9, 2022<\/a><\/p>\n

Could The Top Crypto Close The Year Back At $40K?<\/p>\n

The timing of the pullback today is eerily similar to the 2018 bear market bottom, according to a fractal placed below the current price action.\u00a0In this instance, Bitcoin never made new lows, but instead simply moved sideways for several more weeks to draw in more short interest. <\/p>\n

The cryptocurrency then rallied by more than 300% in three months<\/a>. If the fractal continues to be followed, Bitcoin price could end the year at around $40,000 per coin.<\/p>\n

Will BTC close above $40K to end the year? | Source: BTCUSD on TradingView.com<\/a>
\nMore Downside Instead? What The Bearish Scenario Looks Like<\/p>\n

Of course we\u2019d be foolish to rule out more downside considering the bearish macro backdrop.\u00a0Taking a fractal from the last correction, we could have a roadmap for the last leg down. <\/p>\n

The fractal has Bitcoin price terminating the pattern only a few hundred dollars away from the 2019 peak and would complete an expanded flat pattern<\/a>.\u00a0<\/p>\n

What another leg down could look like | 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.com<\/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-7560","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\/7560","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=7560"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/7560\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=7560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=7560"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=7560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}