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.
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Market in last 24 hrs
- BTCUSD price consolidated, moving mostly around $7,550, before it took a 150 point jump to trade around $7,700
- Price at time of publishing: $7,660
- BTC’s market cap: $145 Billion
Today’s Trend analysis
Price should trend down today. Oscillators are mostly neutral but with a bias towards sell side. MACD is indicating a sell opportunity and both CCI and RSI are in overbought zone. Bears are now gaining control and should act soon.
Another interesting point to notice is the correlation between US stock markets ( S&P500 , etc) and BTC price, which is at currently trending at its all time high.
- Downtrend today
- ‘Oscillator‘ indicators are mostly neutral. RSI is at 70
- ‘Moving average‘ indicators indicating buying opportunity
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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Market in last 24 hrs
- BTCUSD price consolidated, moving mostly around $7,550, before it took a 150 point jump to trade around $7,700
- Price at time of publishing: $7,660
- BTC’s market cap: $145 Billion
Today’s Trend analysis
Price should trend down today. Oscillators are mostly neutral but with a bias towards sell side. MACD is indicating a sell opportunity and both CCI and RSI are in overbought zone. Bears are now gaining control and should act soon.
Another interesting point to notice is the correlation between US stock markets ( S&P500 , etc) and BTC price, which is at currently trending at its all time high.
- Downtrend today
- ‘Oscillator‘ indicators are mostly neutral. RSI is at 70
- ‘Moving average‘ indicators indicating buying opportunity
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!
Trade closed: stop reached:
Market in last 24 hrs
- BTCUSD price moved in a range of +/-100 around yesterday starting price of $7,660
- BTCUSD price moved in a range of +/-100 around yesterday starting price of $7,660
Downward momentum is gaining strength and we should soon witness a trend reversal.