Market in last 24hrs -BTCUSD moved sideways below the midline Bollinger Band -Price volatility was high. The market moved ~4%, between 11.44k and 11k
Today’s Trend analysis -BTCUSD expected to see an uptrend as after squeezing of Bollinger Band it is followed by expansion and breakout -Price at time of publishing: $11,404 -BTC’s market cap: $210 Billion -Oscillator indicators are mostly neutral. RSI at 56 -Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral -Volume indicators observed a constant volume in the recent candles.
Price expected to see a sideways movement as price got rejected from midline Bollinger Band. Most of the Oscillator indicators are neutral. MACD histogram is negative, size decreasing in the negative region about to cross up zero indicating an uptrend. RSI at 56, above the midline with an upmove indicating an uptrend. CCI at 151, in the overbought region increasing upwards. Another interesting point to notice here is that from last few candles Bollinger Band has started to squeeze. ----------------------------------------------------------------------------------------
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 .