In this episode of NewsBTC’s daily technical analysis videos, we examine a recent showing from bulls after a bloody Monday morning open in Bitcoin price action.
Take a look at the video below:
VIDEO: Bitcoin Price Analysis (BTCUSD): September 19, 2022
Last night, we had the weekly close in Bitcoin price, and overnight, there was a deep plunge to the low $18K region. However, since the 9AM Monday morning open, prices have climbed by more than 5% already leaving a long wick behind.
Bull Stop Bears Short With Hammer Time
Bitcoin price is forming a hammer. A hammer is a type of bullish reversal signal in Japanese candlesticks that represents a large, sudden presence from bulls once a key price objective was reached.
On daily timeframes, there