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Quick glance: As of now, BTCUSD seems to be moving out of consolidation. Bollinger Bands are expanding indicating an increase in volatility. A legislation in Germany could likely allow wealth managers known as 'Spezialfonds' to invest up to 20% of their AUM in digital assets.
In our previous analysis on BTCUSD, we had correctly predicted Bitcoin to be on a slippery slope.
Market in the last 24hrs
BTC has been under huge selling pressure in the past 24 hours.
Today’s Trend analysis
BTC is taking support at the trend line shown on the hourly timeframe. Few important observations here are:
1.) Bollinger bands are expanding signalling an increased volatility.
2.) Volume traded is higher than the MA
These combined indicate that we can expect BTC to come out of the consolidation. The overall momentum in the market suggests BTC might continue to remain under pressure in the short term
Price volatility remained high at approximately 6.2%, with the day's range between $33102.68 — $35071.74.
Price at the time of publishing: $33285.71
BTC's market cap: $622.34 Billion
Volumes have increased in the past 24 hours.
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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 .
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Keep supporting:)
-Mudrex
Quick glance: As of now, BTCUSD seems to be moving out of consolidation. Bollinger Bands are expanding indicating an increase in volatility. A legislation in Germany could likely allow wealth managers known as 'Spezialfonds' to invest up to 20% of their AUM in digital assets.
In our previous analysis on BTCUSD, we had correctly predicted Bitcoin to be on a slippery slope.
Market in the last 24hrs
BTC has been under huge selling pressure in the past 24 hours.
Today’s Trend analysis
BTC is taking support at the trend line shown on the hourly timeframe. Few important observations here are:
1.) Bollinger bands are expanding signalling an increased volatility.
2.) Volume traded is higher than the MA
These combined indicate that we can expect BTC to come out of the consolidation. The overall momentum in the market suggests BTC might continue to remain under pressure in the short term
Price volatility remained high at approximately 6.2%, with the day's range between $33102.68 — $35071.74.
Price at the time of publishing: $33285.71
BTC's market cap: $622.34 Billion
- Out of 11 Oscillator indicators, 9 are neutral, and 2 are bearish.
- Out of 15 Moving average indicators, 1 is 'NEUTRAL', 13 are bearish and 1 is bullish .
- Indicator summary is giving a 'strong SELL' signal on BTCUSD .
Volumes have increased 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 .
----------------------------------------------------------------------------------------
Keep supporting:)
-Mudrex
