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BTC not yet of the woods|Expect a bumpy weekend

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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Quick glance: As of now, Bitcoin has jumped back above the $32,000 mark. We are witnessing some slight consolidation in the 4hr time-frame.
In our previous analysis on BTCUSD , we had correctly predicted the short term rally above $32,000. That is exactly what happened in the past 24 hours.

Market in the last 24hrs
We witnessed some consolidation around the $32k mark over the past 24 hours. Volumes declined a bit.


Today’s Trend analysis
The Bollinger Bands indicate that the market volatility has greatly increased. BTCUSD can be expected to hover around the shown range. We will only turn bullish in the short term if BTC manages to get past the $33,800 level.


Price volatility remained low at approximately 2.21%, with the day's range between $32,213.63 — $32,930.00.

Price at the time of publishing: $32,371.19
BTC's market cap: $607.67 Billion



  • Out of 11 Oscillator indicators, 9 are neutral, 1 is bearish and 1 is bullish .

  • Out of 15 Moving average indicators, 1 is 'NEUTRAL', 4 are bearish and 10 are bullish .

  • Indicator summary is giving a ‘BUY’ signal on BTCUSD .

Volumes have decreased over 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 4-hour candles.

Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .

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-Mudrex
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Comments

Well this prediction was very wrong lol find a new day job
+3 Reply
Mudrex CoinCollector007
@CoinCollector007, thanks for the suggestion mate. But I prefer using something called a 'stop loss' in case a trade doesn't go as expected. hope you explore that path as well :)
Reply
Whale are gunning for it.No way they let S2F gets invalidated
+3 Reply
Simply labeling a digital asset a "utility token" does not turn the asset into something that is not a security. Sec Director. then why banning USA retailers from buying by many projects?
+2 Reply
Mudrex richardjeffrey
@richardjeffrey, pretty fair point mate. I understand you're referring to the Ripple case. The outcome will surely set a precedent. Would be interesting to see what happens ultimately as the drama keeps getting close to an ending
Reply
yes you were right. thanks for your analyzes
+2 Reply
find out shortly seems reasonable to me
+2 Reply
Recommend using 12h-1day charts for weekend analysis.
+2 Reply
Mudrex mmarano869
@mmarano869, appreciate the insight :)
Reply