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Quick glance: BTCUSD has been forming the lower highs since the past there weeks. Since the, all the breakouts have been fake. The overall momentum is still bearish on Bitcoin. In comparison, the Altcoins such as ETHUSD have fared better.
In our previous analysis on BTCUSD, we had correctly predicted Bitcoin's fake breakout and had warned about a quick selloff on the basis of volume. BTCUSD followed the price analysis to the exact price point.
Market in the last 24hrs
Markets have been pretty tightly range-bound for BTC over the past 24 hours.
Today’s Trend analysis
Bitcoin might soon give another breakout from the current triangle pattern. Volumes have gone up in the past 24 hours. However, it is crucial to wait for the confirmation candle before entering any trade.
Price volatility remained moderate at approximately 4.2%, with the day's range between $33655.01 — $35100.49.
Price at the time of publishing: $34341.12
BTC's market cap: $641.24 Billion
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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 4Hr candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
Quick glance: BTCUSD has been forming the lower highs since the past there weeks. Since the, all the breakouts have been fake. The overall momentum is still bearish on Bitcoin. In comparison, the Altcoins such as ETHUSD have fared better.
In our previous analysis on BTCUSD, we had correctly predicted Bitcoin's fake breakout and had warned about a quick selloff on the basis of volume. BTCUSD followed the price analysis to the exact price point.
Market in the last 24hrs
Markets have been pretty tightly range-bound for BTC over the past 24 hours.
Today’s Trend analysis
Bitcoin might soon give another breakout from the current triangle pattern. Volumes have gone up in the past 24 hours. However, it is crucial to wait for the confirmation candle before entering any trade.
Price volatility remained moderate at approximately 4.2%, with the day's range between $33655.01 — $35100.49.
Price at the time of publishing: $34341.12
BTC's market cap: $641.24 Billion
- Out of 11 Oscillator indicators, 7 are neutral, 1 is bearish and 3 are bullish .
- Out of 15 Moving average indicators, 1 is 'NEUTRAL', 7 are bearish and 7 are bullish .
- Indicator summary is giving a ‘Neutral' signal on BTCUSD .
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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 4Hr candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
----------------------------------------------------------------------------------------
Keep supporting:)
-Mudrex
