BTCUSD to see slight downtrend(4Hr) | Midline resistance awaits

Market in last 24hrs

• BTCUSD saw a downtrend followed by an uptrend touching the midline Bollinger band
  
• Price volatility was low. The market moved ~3.03%, between $10.95k and $10.62k
  

Today’s Trend analysis

• BTCUSD expected to see a slight downtrend as the price is trading inside the band is expected to get midline resistance
  
• Price at time of publishing: $10,773
  
• BTC’s market cap: $199 Billion
  
• Oscillator indicators are mostly neutral. RSI at 53
  
• Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  
• Volume indicators from observed an increase as price increased while a decrease as price saw a decline
  

Price expected to see a slight downtrend as the price is trading inside the band is expected to get midline resistance. Most of the Oscillator indicators are neutral. MACD line crossed below the signal line, with the histogram size increasing in the negative region suggesting bearish bias. RSI at 53, above the midline in the neutral region. CCI at around 16, in the neutral region with a slight up move. Another interesting point to notice here is that the volume observed an increase as price increased while a decrease as price saw a decline indicating 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