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BTCUSD to move sideways | RSI shows neutral outlook

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Market in last 24hrs
-BTCUSD saw sideways movement
-Price volatility was low. Market moved ~1.8%, between $9.1k and $9.27k

Today’s Trend analysis
-Sideways movement expected, RSI remains neutral
-Price at time of publishing: $9,235
-BTC’s market cap: $170 Billion
-Oscillator indicators are mostly neutral. RSI at 48
-Moving average indicators are biased towards downtrend. Ichimoku Cloud is neutral
-Volume indicators are indicating a sideways movement as volume profile suggests equal buy and sell volumes at current price level

Price expected to move sideways as indicators are neutral and volume profile suggests almost equal buying & selling pressure . Most of the Oscillator indicators are neutral. MACD below 0, chances of crossing up, which is a bullish sign. RSI near midline around 48, which is a neutral sign. CCI is negative -34 , indicating a sideways movement. Another interesting point to notice here is that if price jumped from the lower bollinger band indicating buying pressure there
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 4 hr candles.

DM to get details of the above analysis and list of indicator & their values used to arrive at the above conclusion.

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

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Comments

detailed overview and fresh insights!
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Mudrex ProjectSyndicate
@ProjectSyndicate, Thanks :)
We post analysis daily.
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DM to get details of the above analysis and list of indicator & their values used to arrive at the above conclusion.
Reply
Note: Above analysis would hold true if we do not encounter sudden jump in trade volume.
Reply
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