{"id":500137,"date":"2022-08-26T16:15:27","date_gmt":"2022-08-26T16:15:27","guid":{"rendered":"https:\/\/wncen.com\/?p=500137"},"modified":"2024-06-11T14:23:03","modified_gmt":"2024-06-11T14:23:03","slug":"wpowell-bitcoin-price-august-26-2022","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/wpowell-bitcoin-price-august-26-2022\/","title":{"rendered":"WATCH: Powell Versus Bitcoin Price Log Curve | Daily TA August 26, 2022"},"content":{"rendered":"

In this episode of NewsBTC’s all-new daily technical analysis videos, we are looking at the Bitcoin logarithmic growth curve<\/a>, the Power Law Corridor, and the 200\/100\/50-week moving averages.<\/p>\n

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

VIDEO: Bitcoin Price Analysis (BTCUSD):\u00a0August 26, 2022<\/h2>\n

US Fed Reserve Chair Jerome Powell’s<\/a>\u00a0speech today is already having an impact on markets, with Bitcoin losing support at $21,000 and in danger of falling deeper into a bear trend. With the crypto market in doubt, in this video we zoomed out.<\/span><\/p>\n

<\/iframe><\/div>\n
\n
Related Reading: WATCH: Will Powell\u2019s Friday Speech Send Bitcoin Soaring? Daily TA August 25, 2022<\/a><\/div>\n<\/div>\n

Log Growth Curve Continues To Support Price Action<\/h3>\n

In this zoomed out view we are taking a closer look at the Bitcoin logarithmic growth curve<\/a>. A logarithmic growth curve increases quickly at the start but gains decrease and become more difficult over time. The log growth curve is closely tied to the law of diminishing returns.<\/span><\/p>\n

This type of early growth forms naturally. For example, children learn more easily than adults; when dieting, weight comes off faster to start; or in contrast, beginner strength training gains stack up quickly but over time plateau.<\/span><\/p>\n

Related Reading: Logarithmic Growth Curve Charts Bitcoin Price At $170K in 2028<\/a><\/div>\n

The log growth curve has supported the entire history of Bitcoin price action and put a stop to every bull market. On Black Thursday in March 2020 and on August 20 2015 Bitcoin left a wick below the log growth curve. Each time resulted in a powerful bull run. According to legendary investor Sir John Templeton<\/a>, \u201cThe four most dangerous words in investing are, this time its different\u201d Is this time really different?<\/span><\/p>\n

\u00a0\"BTCUSD_2022-08-26_12-08-54\"<\/p>\n

The log curve has never been broken | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Power Law Corridor Offers Alternative Take With Lower Support<\/h3>\n
Some might argue that the log curve is subjective – it is. In the video, we’ve chosen to draw the curve across candle closes allowing a wick below. Slightly adjusting to draw across wicks creates more room at the bottom of the curve.<\/span><\/p>\n
Related Reading: Power Law: Tracking Bitcoin\u2019s Growth to $100K and Beyond<\/a><\/div>\n
There is yet another longer-term growth model, called the Bitcoin Power Law Corridor<\/a> that is less subjective overall. Turning the tool on aligns with both versions of the log curve. The 2018 bear market bottom stopped at the same line we are at now, while the Black Thursday bottom in 2020 fell to the level below.<\/span><\/p>\n
\"BTCUSD_2022-08-26_12-09-05\"<\/p>\n
Bulls could be ready to power-up! | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
<\/div>\n
A Long-Term Look At The 200\/100\/50-Week MA<\/h3>\n
For our final long-term look at Bitcoin, we are analyzing the 200, 100, and 50-week moving averages.\u00a0<\/span>Unfortunately, Bitcoin remains below the 200-week moving average<\/a> which is a negative sign. The moving average has acted as bear market bottom support in the past and could be working as resistance currently. The 100- and 50-week moving averages are also about to form a death cross<\/a> \u2013 which is the reason for calling out this tool.<\/span><\/p>\n
In the past when the 100 and 50 week moving averages<\/a> cross in Bitcoin, the bottom was already in, and the crypto market began to move up shortly thereafter.\u00a0<\/span>Once again, is this time different?<\/span><\/p>\n
\"BTCUSD_2022-08-26_12-08-19\"<\/p>\n
Is this time different? | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here<\/a> to access the free educational program.<\/p>\n
All this week at Elliott Wave International is Trader Education Week. Here is free access<\/a> to five exclusive videos from one of the world’s best Elliott Wave analysts. You can also get the Elliott Wave book for free<\/a> with a no cost signup.<\/p>\n
Follow <\/i><\/b>@TonySpilotroBTC on Twitter<\/i><\/b><\/a> or join\u00a0<\/i><\/b>the TonyTradesBTC Telegram<\/i><\/b><\/a> for exclusive daily market insights and technical analysis education<\/i><\/b>. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice.<\/i><\/b><\/p>\n
Featured image from iStockPhoto, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
In this episode of NewsBTC’s all-new daily technical analysis videos, we are looking at the Bitcoin logarithmic growth curve, the Power Law Corridor, and the 200\/100\/50-week moving averages. Take a look at the video below. VIDEO: Bitcoin Price Analysis (BTCUSD):\u00a0August 26, 2022 US Fed Reserve Chair Jerome Powell’s\u00a0speech today is already having an impact on markets, with Bitcoin losing support at $21,000 and in danger of falling deeper into a bear trend. With the crypto market in doubt, in this video we zoomed out. Related Reading: WATCH: Will Powell\u2019s Friday Speech Send Bitcoin Soaring? Daily TA August 25, 2022 Log Growth Curve Continues To Support Price Action In this zoomed out view we are taking a closer look at the Bitcoin logarithmic growth curve. A logarithmic growth curve increases quickly at the start but gains decrease and become more difficult over time. The log growth curve is closely tied to the law of diminishing returns. This type of early growth forms naturally. For example, children learn more easily than adults; when dieting, weight comes off faster to start; or in contrast, beginner strength training gains stack up quickly but over time plateau. Related Reading: Logarithmic Growth Curve Charts Bitcoin Price At $170K in 2028 The log growth curve has supported the entire history of Bitcoin price action and put a stop to every bull market. On Black Thursday in March 2020 and on August 20 2015 Bitcoin left a wick below the log growth curve. Each time resulted in a powerful bull run. According to legendary investor Sir John Templeton, \u201cThe four most dangerous words in investing are, this time its different\u201d Is this time really different? \u00a0 The log curve has never been broken | Source: BTCUSD on TradingView.com Power Law Corridor Offers Alternative Take With Lower Support Some might argue that the log curve is subjective – it is. In the video, we’ve chosen to draw the curve across candle closes allowing a wick below. Slightly adjusting to draw across wicks creates more room at the bottom of the curve. Related Reading: Power Law: Tracking Bitcoin\u2019s Growth to $100K and Beyond There is yet another longer-term growth model, called the Bitcoin Power Law Corridor that is less subjective overall. Turning the tool on aligns with both versions of the log curve. The 2018 bear market bottom stopped at the same line we are at now, while the Black Thursday bottom in 2020 fell to the level below. Bulls could be ready to power-up! | Source: BTCUSD on TradingView.com A Long-Term Look At The 200\/100\/50-Week MA For our final long-term look at Bitcoin, we are analyzing the 200, 100, and 50-week moving averages.\u00a0Unfortunately, Bitcoin remains below the 200-week moving average which is a negative sign. The moving average has acted as bear market bottom support in the past and could be working as resistance currently. The 100- and 50-week moving averages are also about to form a death cross \u2013 which is the reason for calling out this tool. In the past when the 100 and 50 week moving averages cross in Bitcoin, the bottom was already in, and the crypto market began to move up shortly thereafter.\u00a0Once again, is this time different? Is this time different? | Source: BTCUSD on TradingView.com Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here to access the free educational program. All this week at Elliott Wave International is Trader Education Week. Here is free access to five exclusive videos from one of the world’s best Elliott Wave analysts. You can also get the Elliott Wave book for free with a no cost signup. 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":[428,1119,1144,78790,6664,4524,76835],"class_list":["post-500137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nPowell Versus Bitcoin Price Log Curve | Daily TA August 26, 2022<\/title>\n<meta name=\"description\" content=\"In this daily technical analysis video, we are looking at the Bitcoin logarithmic growth curve and the 200\/100\/50-week moving averages.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. 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. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. 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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