{"id":499515,"date":"2022-08-22T13:56:09","date_gmt":"2022-08-22T13:56:09","guid":{"rendered":"https:\/\/uniquehot.com\/?p=499515"},"modified":"2024-06-11T14:22:49","modified_gmt":"2024-06-11T14:22:49","slug":"crypto-analysis-bitcoin-price-btcusd","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/crypto-analysis-bitcoin-price-btcusd\/","title":{"rendered":"WATCH: Daily Crypto Technical Analysis August 22, 2022: Bitcoin Price (BTCUSD)"},"content":{"rendered":"<p>Welcome to the first episode of NewsBTC&#8217;s all-new daily technical analysis videos. In the first episode, we are looking at <a href=\"https:\/\/www.youtube.com\/watch?v=xtggxb1S0Ic\" rel=\"nofollow\"><strong>Bitcoin price action<\/strong><\/a> using the weekly BTCUSD price chart.<\/p>\n<p>Specifically, this episode looks at Bitcoin&#8217;s &#8220;most profitable buy signal&#8221; in its entire history: the hash ribbons. In addition, we analyze weekly momentum using the logarithmic MACD to try to understand if a bottom could be in. Take a look at the video below.<\/p>\n<h2>VIDEO: Bitcoin Price Analysis (BTCUSD):\u00a0August 22, 2022<\/h2>\n<p>&nbsp;<\/p>\n<div class=\"jeg_video_container jeg_video_content\"><\/iframe><\/div>\n<h3>All About The Hash Ribbons<\/h3>\n<p>The Hash Ribbons were created by Bitcoin analyst Charles Edwards. They are a pair of moving averages based on the Bitcoin hash rate and mining difficulty, and signal when miners are capitulating. When this phase ends, a buy signal is issued. In fact, its buy signal has been called Bitcoin\u2019s <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/most-profitable-buy-signal-bitcoin-just-triggered\/\">most profitable buy signal, <\/a>producing several thousand percent ROI on average each time it triggers. The signal is even more profitable when it appears prior to a Bitcoin halving<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-499521 aligncenter\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/08\/BTCUSD_2022-08-22_09-36-46.png?resize=860%2C408\" alt=\"BTCUSD_2022-08-22_09-36-46\" width=\"860\" height=\"408\"><\/p>\n<pre style=\"text-align: center\">The hash ribbons have triggered a buy signal | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>With the hash ribbons buy signal on the daily, weekly timeframes become more interesting in anticipation of a possible bottom. Although a bottom could be in already, the market has historically continued to draw down even after the hash ribbons buy signal.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/most-profitable-buy-signal-bitcoin-just-triggered\/\">The Most Profitable Buy Signal In Bitcoin Just Triggered<\/a><\/div>\n<h3>Measuring Momentum With LMACD<\/h3>\n<p>Yesterday gave us a fresh weekly close in BTCUSD. In particular, we will be using the Logarithmic MACD in our analysis. The log version of the <a href=\"https:\/\/uniquehot.com\/topic\/macd\/\">MACD<\/a> provides better comparative analysis across past cycles.<\/p>\n<p>Although the MACD had opened green the week prior, the late-week selloff uncrossed the bullish crossover and has forced momentum sideways. The weekly MACD is at historical bear market readings. Diverging down further would be unprecedented and likely take Bitcoin down below $17K.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-499524 aligncenter\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/08\/BTCUSD_2022-08-22_09-35-35.png?resize=860%2C430\" alt=\"BTCUSD_2022-08-22_09-35-35\" width=\"860\" height=\"430\"><\/p>\n<pre style=\"text-align: center\">Will momentum cross upward? | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>However, if bulls can complete the bull cross, in previous cycles the change in momentum was enough to kickstart a bullish impulse. The MACD is currently one of the most important indicators to watch on weekly timeframes.\u00a0Although a bullish crossover could confirm the bottom, the MACD gets a reputation for being a lagging indicator and therefore the bottom could be in long before the bull crossover confirms.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/habitcoin-price-decade-long-trend-line\/\">Has Bitcoin Price Found Support At A Decade-Long Trend Line?<\/a><\/div>\n<h3>The Ten Year Trend Line<\/h3>\n<p>Adding credence to a potential bottom, Bitcoin weekly is sitting at a long-term trend line <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/habitcoin-price-decade-long-trend-line\/\">lasting over a decade long<\/a>. The long term trend line has been touched on 5 separate occasions including the 2014 bear market bottom and Black Thursday in March 2020. Losing this trend line could be disastrous for the cryptocurrency market.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-499523 aligncenter\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/08\/BTCUSD_2022-08-22_09-36-12.png?resize=860%2C408\" alt=\"BTCUSD_2022-08-22_09-36-12\" width=\"860\" height=\"408\"><\/p>\n<pre style=\"text-align: center\">Will this nearly ten year long trend line hold? | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>Learn crypto technical analysis yourself with the NewsBTC Trading Course. <a href=\"https:\/\/uniquehot.com\/trading-courses\/\">Click here<\/a> to access the free educational program.<\/p>\n<p><b><i>Follow <\/i><\/b><a href=\"https:\/\/twitter.com\/tonyspilotroBTC\" rel=\"nofollow\"><b><i>@TonySpilotroBTC on Twitter<\/i><\/b><\/a><b><i> or join\u00a0<\/i><\/b><a href=\"https:\/\/t.me\/TonyTradesBTC\" rel=\"nofollow\"><b><i>the TonyTradesBTC Telegram<\/i><\/b><\/a><b><i> for exclusive daily market insights and technical analysis education<\/i><\/b><b><i>. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice.<\/i><\/b><\/p>\n<pre>Featured image from iStockPhoto, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Welcome to the first episode of NewsBTC&#8217;s all-new daily technical analysis videos. In the first episode, we are looking at Bitcoin price action using the weekly BTCUSD price chart. Specifically, this episode looks at Bitcoin&#8217;s &#8220;most profitable buy signal&#8221; in its entire history: the hash ribbons. In addition, we analyze weekly momentum using the logarithmic MACD to try to understand if a bottom could be in. Take a look at the video below. VIDEO: Bitcoin Price Analysis (BTCUSD):\u00a0August 22, 2022 &nbsp; All About The Hash Ribbons The Hash Ribbons were created by Bitcoin analyst Charles Edwards. They are a pair of moving averages based on the Bitcoin hash rate and mining difficulty, and signal when miners are capitulating. When this phase ends, a buy signal is issued. In fact, its buy signal has been called Bitcoin\u2019s most profitable buy signal, producing several thousand percent ROI on average each time it triggers. The signal is even more profitable when it appears prior to a Bitcoin halving The hash ribbons have triggered a buy signal | Source: BTCUSD on TradingView.com With the hash ribbons buy signal on the daily, weekly timeframes become more interesting in anticipation of a possible bottom. Although a bottom could be in already, the market has historically continued to draw down even after the hash ribbons buy signal. Related Reading: The Most Profitable Buy Signal In Bitcoin Just Triggered Measuring Momentum With LMACD Yesterday gave us a fresh weekly close in BTCUSD. In particular, we will be using the Logarithmic MACD in our analysis. The log version of the MACD provides better comparative analysis across past cycles. Although the MACD had opened green the week prior, the late-week selloff uncrossed the bullish crossover and has forced momentum sideways. The weekly MACD is at historical bear market readings. Diverging down further would be unprecedented and likely take Bitcoin down below $17K. Will momentum cross upward? | Source: BTCUSD on TradingView.com However, if bulls can complete the bull cross, in previous cycles the change in momentum was enough to kickstart a bullish impulse. The MACD is currently one of the most important indicators to watch on weekly timeframes.\u00a0Although a bullish crossover could confirm the bottom, the MACD gets a reputation for being a lagging indicator and therefore the bottom could be in long before the bull crossover confirms. Related Reading: Has Bitcoin Price Found Support At A Decade-Long Trend Line? The Ten Year Trend Line Adding credence to a potential bottom, Bitcoin weekly is sitting at a long-term trend line lasting over a decade long. The long term trend line has been touched on 5 separate occasions including the 2014 bear market bottom and Black Thursday in March 2020. Losing this trend line could be disastrous for the cryptocurrency market. Will this nearly ten year long trend line hold? | Source: BTCUSD on TradingView.com Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here to access the free educational program. Follow @TonySpilotroBTC on Twitter or join\u00a0the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":499542,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,6664,66102,4078,4524,76835],"class_list":["post-499515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-crypto","tag-hash-ribbons","tag-technical-analysis","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Daily Crypto Technical Analysis August 22, 2022: Bitcoin Price (BTCUSD)<\/title>\n<meta name=\"description\" content=\"Welcome to NewsBTC&#039;s all-new technical analysis videos. In the first episode, we examine Bitcoin price action using the weekly BTCUSD chart.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/crypto-analysis-bitcoin-price-btcusd\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Crypto Technical Analysis August 22, 2022: Bitcoin Price (BTCUSD)\" \/>\n<meta property=\"og:description\" content=\"Welcome to NewsBTC&#039;s all-new technical analysis videos. In the first episode, we examine Bitcoin price action using the weekly BTCUSD chart.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/crypto-analysis-bitcoin-price-btcusd\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-22T13:56:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T14:22:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/08\/TA-videos-1.png?fit=1365%2C768\" \/>\n\t<meta property=\"og:image:width\" content=\"1365\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Tony &quot;The Bull&quot; Severino\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/tonythebullBTC\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tony &quot;The Bull&quot; Severino\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/crypto-analysis-bitcoin-price-btcusd\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/crypto-analysis-bitcoin-price-btcusd\/\"},\"author\":{\"name\":\"Tony \\\"The Bull\\\" Severino\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\"},\"headline\":\"WATCH: Daily Crypto Technical Analysis August 22, 2022: Bitcoin Price (BTCUSD)\",\"datePublished\":\"2022-08-22T13:56:09+00:00\",\"dateModified\":\"2024-06-11T14:22:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/crypto-analysis-bitcoin-price-btcusd\/\"},\"wordCount\":504,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/crypto-analysis-bitcoin-price-btcusd\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/08\/TA-videos-1.png?fit=1365%2C768\",\"keywords\":[\"bitcoin\",\"btcusd\",\"BTCUSDT\",\"crypto\",\"hash ribbons\",\"technical analysis\",\"xbt\",\"xbtusd\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/news\/crypto-analysis-bitcoin-price-btcusd\/\",\"url\":\"https:\/\/uniquehot.com\/news\/crypto-analysis-bitcoin-price-btcusd\/\",\"name\":\"Daily Crypto Technical Analysis August 22, 2022: Bitcoin Price (BTCUSD)\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/crypto-analysis-bitcoin-price-btcusd\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/crypto-analysis-bitcoin-price-btcusd\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/08\/TA-videos-1.png?fit=1365%2C768\",\"datePublished\":\"2022-08-22T13:56:09+00:00\",\"dateModified\":\"2024-06-11T14:22:49+00:00\",\"description\":\"Welcome to NewsBTC's all-new technical analysis videos. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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