BTCUSD to see an uptrend(4Hr) | Bollinger band expands with HL

Market in last 24hrs

• BTCUSD saw a continued uptrend with price riding the upper band
  
• Price volatility was very high. The market moved ~9.13%, between $13.25k and $12.14k
  

Today’s Trend analysis

• BTCUSD expected to see an uptrend as price is riding the upper band with higher lows and Bollinger band expansion observed
  
• Price at time of publishing: $12,298
  
• BTC’s market cap: $240 Billion
  
• Oscillator indicators are mostly neutral. RSI at 84
  
• Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  
• Volume indicators observed an increase with an increase in price while a decrease in value with the price decline
  

Price expected to see an uptrend as price is riding the upper band with higher lows and Bollinger band expansion observed. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size increasing in the positive region suggesting bullish bias. RSI at 84, in the overbought region, indicating a downtrend. CCI at around 134, in the overbought region indicating a downtrend. Another interesting point to notice here is that the volume observed an increase with an increase in price while a decrease in value with the price decline indicating a strengthened 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.

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