Market in the last 1 week
BTC touched a new all-time high this week and the price is still rising along with the upper Bollinger band. Daily trading volume has been high but can be seen decreasing with an increase in price suggesting that we might soon see some correction.
Next Week's Trend analysis
The price is expected to continue to move in a bullish momentum till the price accepts the upper band as a resistance line after which the price is expected to oscillate between the upper and the middle Bollinger band.
The price change was high at approximately 17.69%, with the week's range between $56868 — $66930.
Price at the time of publishing: $65,918
BTC’s market cap: $1.24 Trillion
Moreover, the Indicator summary is giving a 'BUY' signal on BTCUSD.
Out of 11 Oscillator indicators, 6 are giving a SELL signal, 3 are neutral and 2 are giving a BUY signal.
Out of 15 Moving average indicators, 1 is giving SELL signal, 1 is giving neutral and 13 are giving a BUY signal.
Traded volume has remained high in the past week. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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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 1 Day candles.
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Any feedback and suggestions would help in further improving the analysis!
BTC touched a new all-time high this week and the price is still rising along with the upper Bollinger band. Daily trading volume has been high but can be seen decreasing with an increase in price suggesting that we might soon see some correction.
Next Week's Trend analysis
The price is expected to continue to move in a bullish momentum till the price accepts the upper band as a resistance line after which the price is expected to oscillate between the upper and the middle Bollinger band.
The price change was high at approximately 17.69%, with the week's range between $56868 — $66930.
Price at the time of publishing: $65,918
BTC’s market cap: $1.24 Trillion
Moreover, the Indicator summary is giving a 'BUY' signal on BTCUSD.
Out of 11 Oscillator indicators, 6 are giving a SELL signal, 3 are neutral and 2 are giving a BUY signal.
Out of 15 Moving average indicators, 1 is giving SELL signal, 1 is giving neutral and 13 are giving a BUY signal.
Traded volume has remained high in the past week. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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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 1 Day candles.
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Any feedback and suggestions would help in further improving the analysis!
