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BTCUSD to see an uptrend further | Midline support BB expands

Long
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Market in last 24hrs
  • BTCUSD saw an uptrend followed by a decline in price to reach the midline support
  • Price volatility was high. The market moved ~5.85%, between $19469k and $18392k
Today’s Trend analysis
  • BTCUSD expected to see an uptrend as the price observed midline support with the Bollinger band started to expand
  • Price at time of publishing: $19,301
  • BTC’s market cap: $357 Billion
  • Oscillator indicators are mostly neutral. RSI at 62
  • Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  • Volume indicators observed an increase in volume with price increase followed by a decrease in volume with the decline in price
Price expected to see an uptrend as the price observed midline support with the Bollinger band started to expand. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size decreasing in the positive region suggesting bullish bias. RSI at 62, in the neutral region above the midline. CCI at around 127, in the overbought region indicating a downtrend soon. Another interesting point to notice here is that the volume observed an increase in volume with price increase followed by a decrease in volume with the decline in price indicating a strong buying pressure.
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.

Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .

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Comments

Good work
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nice work, please keep it up. BTCUSD is a few moments away from cracking the ATH. wow!
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If you find the analysis useful, please like and share our ideas with the community as well as follow to stay updated with new ideas!
Reply
@Mudrex, Thanks my friend
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Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
Reply
@Mudrex, the Above analysis, would hold true if we weren't massively overbought for a solid month
Reply
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