Market in the last 24hrs BTCUSD saw consolidated movement with a slight indication of a bearish trend. The price hovered on the middle Bollinger band. Trading volume has been very low in the last 24 hours.
Today’s Trend analysis The current price is nearing the upper Bollinger band which is usually a strong resistance line. So if the price accepts the upper band as a resistance line we may see the price move back to bearish momentum towards the first support line which is the middle Bollinger band and if it is rejected then towards the bottom band. There is a chance that the price rejects the upper band as a resistance line then we may see bull run for some time followed by consolidation.
Price volatility was very low at approximately 0.4%, with the day's range between $32385 — $34486. Price at the time of publishing: $34015 BTC's market cap: 637Billion
Indicator summary is giving a 'NEUTRAL' signal on BTCUSD for the shorter timeframe.
Out of 11 Oscillator indicators, 8 are neutral, and 2 are giving a 'SELL' signal and 1 is giving a 'BUY' signal.
Out of 15 Moving average indicators, 8 are giving a 'BUY' signal,1 is giving "NEUTRAL" and 6 are giving a 'SELL' signal.
Volumes have remained low in the past 24 hours. ----------------------------------------------------------------------------------------
The analysis is based on signals from 26 technical indicators, out of which 15 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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Corriecronje
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Thanks for analysis, Mudrex.
Looking at weekly candlesticks of the previous reversals Q1'14, Q1'18, Q3'19 and now Q2'21, I notice the prices returned to the middle line resistance after breaking the bottom band. Once returned to the middle band, the prices followed the band down again before making the next move.
My expectation (with all the normal disclaimers on past performance) is that prices will increase for the next week to mid-level before sliding down again.