BTCUSD saw consolidation after the price declined to get the lower Bollinger band support
Price volatility was very high. The market moved ~5.57%, between 13.49k and 12.78k
Today’s Trend analysis
BTCUSD expected to see an uptrend as the price after getting support from the lower band saw an uptrend with higher lows and the Bollinger band started to expand
Price at time of publishing: $13,408
BTC’s market cap: $245 Billion
Oscillator indicators are mostly neutral. RSI at 68
Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
Volume indicators observed a change from an increase in volume with price decline to an increase in volume with price increase
Price expected to see an uptrend as the price after getting support from the lower band saw an uptrend with higher lows and the Bollinger band started to expand. Most of the Oscillator indicators are neutral. MACD line approaching from below the signal line, with the histogram size decreasing in the negative region suggesting bearish bias. RSI at 68, in the neutral region. CCI at around 252, in the overbought region indicating a downtrend. Another interesting point to notice here is that the volume observed a change from an increase in volume with price decline to an increase in volume with price increase indicating a shift from sellers to buyers. ----------------------------------------------------------------------------------------
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 .