BTCUSD to move sideways | RSI drops from 81 to 49!

Analysis Summary
-Market in last 24hrs
-BTCUSD moved sideways after a big fall
-Price volatility was high. Market moved ~14.59%, between $12.1k and $10.55k

Today’s Trend analysis
-BTCUSD expected to move sideways below bollinger mid-line
-Price at time of publishing: $11,205
-BTC’s market cap: $205 Billion
-Oscillator indicators are mostly neutral. RSI at 49
-Moving average indicators are biased towards uptrend. Ichimoku Cloud is neutral
-Volume indicators are indicating no support for the downtrend as volumes decreased after the recent big red candle.

Price expected to see a sideways movement as price bounces from lower bollinger band . Most of the Oscillator indicators are neutral. MACD histogram is negative, size decreasing in the negative region indicating slowing downtrend. RSI at 49, around midline after a drop from 81 and recovered to reach the midline indicating an upmove. CCI at -56, still in neutral region suggesting a sideways movement. Another interesting point to notice here is that the price bounced from the lower bollinger band suggesting that the downtrend might not continue.

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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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- Mudrex