BTC - Downtrend today | Price to approach bollinger band midline

Today’s Trend analysis
- Downtrend to continue
- Price at time of publishing: $9,500
- BTC’s market cap: $175 Billion
- Oscillator indicators are mostly neutral. RSI at 68
- Moving average indicators are indicating an uptrend. Ichimoku Cloud is neutral
- Red volume indicators are getting bigger, are indicating the uptrend is now weak

Price expected reverse trend and start downtrend as price increase is not supported by volume . Most of the Oscillator indicators are neutral. MACD is trending up but the histogram size is reducing, indicating that the uptrend is getting weaker. RSI is trending close to 70 now, heading towards oversold zone. Price bounced back from upper bollinger band , expected to head towards midline.

----------------------------------------------------------------------------------------

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!

- Mudrex