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.
This is #55 of BTCUSD daily technical analysis, provided by Mudrex.
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Market in last 24 hrs
- Yesterday was a crazy day with Crude oil trading at 0.01 USD/barrel
- BTC saw a steep fall to $6,750. After the recovery of Crude oil price, BTC started recovering too
- Price at time of publishing: $6,840
- BTC’s market cap: $126 Billion
Today’s Trend analysis
Price should consolidate today. Oscillators are mostly neutral but compared to yesterday, some have shifted to sell side. CCI is in over-sold zone and RSI is at 40. MACD is indicating a sell opportunity. Overall, down-trending momentum isn’t strong yet.
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.
- Consolidation/Sideways today
- ‘Oscillator‘ indicators are mostly neutral. RSI is at 40 mark
- ‘Moving average‘ indicators indicating selling opportunity
DM to get details of the above analysis and list of indicator & their values used to arrive at the above conclusion.
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Note: Above analysis would hold true if we do not encounter sudden jump in trade volume.
This is #55 of BTCUSD daily technical analysis, provided by Mudrex.
----------------------------------------------------------------------------------------
Market in last 24 hrs
- Yesterday was a crazy day with Crude oil trading at 0.01 USD/barrel
- BTC saw a steep fall to $6,750. After the recovery of Crude oil price, BTC started recovering too
- Price at time of publishing: $6,840
- BTC’s market cap: $126 Billion
Today’s Trend analysis
Price should consolidate today. Oscillators are mostly neutral but compared to yesterday, some have shifted to sell side. CCI is in over-sold zone and RSI is at 40. MACD is indicating a sell opportunity. Overall, down-trending momentum isn’t strong yet.
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.
- Consolidation/Sideways today
- ‘Oscillator‘ indicators are mostly neutral. RSI is at 40 mark
- ‘Moving average‘ indicators indicating selling opportunity
DM to get details of the above analysis and list of indicator & their values used to arrive at the above conclusion.
If you find the analysis useful, please like & subscribe and share our ideas & charts with the community!
Note: Above analysis would hold true if we do not encounter sudden jump in trade volume.
Trade active:
As predicted, BTCUSD has been moving in the region defined in above graph.
If you find the analysis useful, please like and share our ideas with the community!
Mudrex
If you find the analysis useful, please like and share our ideas with the community!
Mudrex
Trade closed: target reached:
As predicted, BTCUSD consolidated yesterday. Price movement was limited and price has moved up only by 100 points since the time analysis was published yesterday.
If you find the analysis useful, please like and share our ideas with the community!
Mudrex
If you find the analysis useful, please like and share our ideas with the community!
Mudrex
