{"id":32795,"date":"2022-12-29T09:59:33","date_gmt":"2022-12-29T09:59:33","guid":{"rendered":"https:\/\/lydian.io\/?p=32795"},"modified":"2022-12-29T09:59:33","modified_gmt":"2022-12-29T09:59:33","slug":"bitcoin-threatens-20-month-low-at-month-end-with-btc-price-below-20000","status":"publish","type":"post","link":"https:\/\/lydian.io\/bitcoin-threatens-20-month-low-at-month-end-with-btc-price-below-20000\/","title":{"rendered":"Bitcoin threatens 20-month low at month-end with BTC price below $20,000","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
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Bitcoin (BTC) appeared to set its lowest month-to-month shut since 2020 on Aug. 28 as bulls did not take management.<\/p>\n
BTC\/USD 1 Hour Candlestick Chart (Bitstamp). Supply: TradingView<\/p>\n
Information from Cointelegraph Markets Professional and trading view<\/a> confirmed BTC\/USD criss-crossing above $20,000 with hours till the weekly candle was full.<\/p>\n The pair was unable to regain misplaced floor over the weekend and even $20,000 appeared susceptible as assist just some days earlier than the top of the month.<\/p>\n On the time of writing, Bitcoin was buying and selling close to $19,900 \u2013 beneath the June shut.<\/p>\n BTC\/USD 1 Month Candlestick Chart (Bitstamp). Supply: TradingView<\/p>\n \"It did not matter what sort of traces or squiggles you had in your charts,\" on-chain monitoring useful resource Materials Indicators summarized<\/a> over the weekend alongside bid and ask information from the Binance order e-book. <\/p>\n \u201cAfter JPow slapped the market within the face on Friday, BTC misplaced the pattern that got here off the June low. The query now's whether or not this native low will maintain. There's presently inadequate bid liquidity to be excited.\u201dBTC\/USD Purchase and Promote stage chart (Binance). Supply: Materials Indicators\/ Twitter<\/p>\n Materials Indicators referred to the Aug. 26 cascade of threat property that resulted from hawkish feedback from Federal Reserve Chairman Jerome Powell. <\/p>\n With no signal of a want to chop or reverse rate of interest hikes sooner or later, Powell's speech on the annual Jackson Gap Financial Symposium despatched shockwaves via inventory markets. US shares misplaced a complete of $1.25 trillion on the day.<\/p>\n Bitcoin suffered in lockstep, and whereas some potential consumers stepped ahead with plans to purchase beneath $20,000, the consensus favored deeper draw back going ahead.<\/p>\n Well-liked commerce ambassador was two scenarios in mind<\/a> on the day, one with a assist\/resistance flip to proceed larger and one other concentrating on a breakdown to $16k-$17k.<\/p>\n