BTC - Bulls Getting Weak. Trend Reversal Around The Corner!
Market in last 24 hrs
- As predicted in the previous analysis, BTCUSD price moved slightly up
- Market moved ~3%, between $9k and $9.3k
Today’s Trend analysis
- Price at time of publishing: $9,445
- BTC’s market cap: $174 Billion
- Consolidation/Sideways today
- ‘Oscillator‘ indicators are mostly neutral. RSI at 66
- ‘Moving average‘ indicators are indicating an uptrend. Ichimoku Cloud is neutral
Price expected to move sideways today. Most of the Oscillator indicators are neutral. MACD histogram continues to be in positive zone. RSI and CCI are now trending down, currently at 66 and 144. Moreover, RSI has crossed down 70 and CCI is about to cross down 100. Adding to this, price is touching upper Bollinger Band. All these factors indicate that bulls are loosing strength and bears are gaining control. Trend reversal is around the corner.
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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!
- As predicted in the previous analysis, BTCUSD price moved slightly up
- Market moved ~3%, between $9k and $9.3k
Today’s Trend analysis
- Price at time of publishing: $9,445
- BTC’s market cap: $174 Billion
- Consolidation/Sideways today
- ‘Oscillator‘ indicators are mostly neutral. RSI at 66
- ‘Moving average‘ indicators are indicating an uptrend. Ichimoku Cloud is neutral
Price expected to move sideways today. Most of the Oscillator indicators are neutral. MACD histogram continues to be in positive zone. RSI and CCI are now trending down, currently at 66 and 144. Moreover, RSI has crossed down 70 and CCI is about to cross down 100. Adding to this, price is touching upper Bollinger Band. All these factors indicate that bulls are loosing strength and bears are gaining control. Trend reversal is around the corner.
----------------------------------------------------------------------------------------
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!
Trade active:
RSI and CCI are now trending slightly down. Consolidation should continue.
Trade closed: target reached:
As predicted, trend reversal!
