BTCUSD expected to move sideways | Lower highs were observed

Market in last 24hrs

-BTCUSD moved sideways with rejection from midline Bollinger Band
-Price volatility was high. Market moved ~3.25%, between $11. 48k and $11.12k

Today’s Trend analysis

-BTCUSD expected to move sideways below bollinger mid-line
-Price at time of publishing: $11,246
-BTC’s market cap: $207 Billion
-Oscillator indicators are mostly neutral. RSI at 51
-Moving average indicators are also neutral. Ichimoku Cloud is neutral
-Volume indicators are indicating decreasing volumes in recent few candles.

Price expected to see a sideways movement as price got rejected from midline Bollinger Band . Most of the Oscillator indicators are neutral. MACD histogram is negative, size decreasing in the negative region indicating slowing downtrend. RSI at 49, around midline with a slight dowmove indicating a downtrend. CCI at -37, still in neutral region suggesting a sideways movement. Another interesting point to notice here is that there are lower highs observed suggesting less buying pressure.
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 4 hr candles.

DM to get details of the above analysis and list of indicator & their values used to arrive at the above conclusion.

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

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- Mudrex