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Quick glance: As of now, BTCUSD seems to be facing local trend line resistance at current levels.
Our previous analysis on BTCUSD explored the Elon candle, with him getting on a tweet frenzy and driving the market!
Market in the last 24hrs A quick pump was observed driving prices from $32,425 to over the 34.5k mark.
Today’s Trend analysis The local resistance trend line appears to be a rebound zone. If it gets broke, the next level would be $35,600. However, on a longer term, BTCUSD is still forming lower lows.
Price volatility remained low at approximately 3.18%, with the day's range between $34270.00 — $35357.80.
Price at the time of publishing: $34955.84 BTC's market cap: $654.85 Billion
Out of 11 Oscillator indicators, 7 are neutral,1 indicates to a bullish outlook, and 3 are bearish.
Out of 15 Moving average indicators, 10 indicate a bullish outlook, 1 is 'NEUTRAL' and 4 are bearish.
Indicator summary is giving a 'BUY' signal on BTCUSD .
Volumes have remained high in the past 24 hours. ----------------------------------------------------------------------------------------
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 .