Market in last 24hrs
-BTCUSD bounced and then continued downtrend as shown in last analysis.
-Price volatility was low. Market moved ~1.1%, between $9.05k and $9.1k
Today’s Trend analysis
-Expected Uptrend as RSI bounces
-Price at time of publishing: $9,102
-BTC’s market cap: $167 Billion
-Oscillator indicators are mostly neutral. RSI at 41
-Moving average indicators are biased towards downtrend. Ichimoku Cloud is neutral
-Volume indicators are indicating continuation in downtrend as price increase saw decreasing volume suggesting uptrend is not supported by volumes.
Price expected to continue downtrend as price increase were not supported by volume . Most of the Oscillator indicators are neutral. MACD is negative around -33, increasing histogram is a bearish sign. RSI bounced from 30, still below midline which is a weak bearish sign. CCI rose from oversold region, which is a neutral sign. Another interesting point to notice here is that in 1 hr candle we are seeing breakout after bollinger band squeeze.
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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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If you find the analysis useful, please like and share our ideas with the community!
- Mudrex
-BTCUSD bounced and then continued downtrend as shown in last analysis.
-Price volatility was low. Market moved ~1.1%, between $9.05k and $9.1k
Today’s Trend analysis
-Expected Uptrend as RSI bounces
-Price at time of publishing: $9,102
-BTC’s market cap: $167 Billion
-Oscillator indicators are mostly neutral. RSI at 41
-Moving average indicators are biased towards downtrend. Ichimoku Cloud is neutral
-Volume indicators are indicating continuation in downtrend as price increase saw decreasing volume suggesting uptrend is not supported by volumes.
Price expected to continue downtrend as price increase were not supported by volume . Most of the Oscillator indicators are neutral. MACD is negative around -33, increasing histogram is a bearish sign. RSI bounced from 30, still below midline which is a weak bearish sign. CCI rose from oversold region, which is a neutral sign. Another interesting point to notice here is that in 1 hr candle we are seeing breakout after bollinger band squeeze.
----------------------------------------------------------------------------------------
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 .
----------------------------------------------------------------------------------------
If you find the analysis useful, please like and share our ideas with the community!
- Mudrex
