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BTCUSD to see a continued uptrend(4Hr) | Higher lows observed

Long
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Market in last 24hrs
  • BTCUSD saw an uptrend with a gap up in price observed
  • Price volatility was very high. The market moved ~8.55%, between $19,915k and $18,345k
Today’s Trend analysis
  • BTCUSD expected to see a continued uptrend as price observed higher lows with Bollinger band moving upward
  • Price at time of publishing: $19,395.29
  • BTC’s market cap: $359 Billion
  • Oscillator indicators are mostly neutral. RSI at 66
  • Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  • Volume indicators observed an increase with the price increase while a decrease in volume was observed with the price decline
Price expected to see a continued uptrend as price observed higher lows with Bollinger band moving upward. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size decreasing in the positive region suggesting bullish bias. RSI at 66, in the neutral region above the midline. CCI at around 94, in the neutral region with a down move. Another interesting point to notice here is that the volume increase with the price increase while a decrease in volume was observed with the price decline indicating strong buying pressure.
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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 4Hr candles.

Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .

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Comments

If you find the analysis useful, please like and share our ideas with the community as well as follow to stay updated with new ideas!
+1 Reply
@Mudrex, Thanks
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Hidden bearish divergence though
Reply
detailed overview and outlook for bitcoin. can't argue with that. bull market in action.
Reply
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
Reply
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