BTCUSD to see a slight downtrend(4Hr)! | Gap Down observed

Market in last 24hrs

• BTCUSD saw a downtrend with price moving sideways
  
• Price volatility was low. The market moved ~2.47%, between $11.48k and $11.2k
  

Today’s Trend analysis

• BTCUSD expected to see a slight downtrend as gap down was observed with Bollinger band expansion taking place
  
• Price at time of publishing: $11,316
  
• BTC’s market cap: $209 Billion
  
• Oscillator indicators are mostly neutral. RSI at 36
  
• Moving average indicators are indicating a downtrend. Ichimoku Cloud is neutral
  
• Volume indicators observed a decrease in the recent candles with an increase to 20-candle moving average
  

Price expected to see a slight downtrend as gap down was observed with Bollinger band expansion taking place. Most of the Oscillator indicators are neutral. MACD line approaching from below the signal line, with the histogram size decreasing in the negative direction. RSI at 36, below to the midline still in the neutral region. CCI at around -118, in the oversold region with an upmove from -188. Another interesting point to notice here is that the volume in the recent candles saw a decrease suggesting a weakening selling pressure, with an increase in 20-candle moving average.
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and the 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 .

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- Mudrex