BTC to see potential breakout up(1D)! | Double bottom expected

Market in last 1 week

• BTCUSD saw a downtrend followed by midline support to consolidate
  
• Price volatility was very high. The market moved ~9.33%, between $11.08k and $10.13k
  

Today’s Trend analysis

• BTCUSD expected to see a potential breakout as price is trading inside bands with double bottom expected
  
• Price at time of publishing: $10,711
  
• BTC’s market cap: $198 Billion
  
• Oscillator indicators are mostly neutral. RSI at 49
  
• Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  
• Volume indicators observed an increase in volume except for a spike for a sudden price decline
  

Price expected to see a potential breakout as price is trading inside bands with double bottom expected. Most of the Oscillator indicators are neutral. MACD moving above the signal line with histogram size increasing in the positive direction suggesting a bullish bias. RSI at 49, close to the midline, still in the neutral region. CCI is around 34, also in the neutral. Another interesting point to notice here is that Bollinger band squeezes and the volumes observed an increase in volume except a spine for a sudden price decline suggesting a shift from sellers to buyers.
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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.

DM to get details of the above analysis and list of indicators & their values used to arrive at the above conclusion.

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

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- Mudrex