BTCUSDT in consolidation phase | BB midline virtual support (4H)
Market in last 24hrs
BTCUSDT saw a sideways movement with the price hitting the upper band of BB and then returning to the midline.
Today’s Trend analysis
BTCUSDT could remain in this consolidation phase, squeezing between the upper band and midline of BB.
Price volatility remained at approximately 1.6%
Price at the time of publishing: $38,709.41
BTC's market cap: $724.58 Billion
Oscillator indicators are mostly neutral. RSI is at 50
Moving average indicators are suggesting a bearish move. Both the short term, SMA and EMA are signalling a bearish momentum.
A consolidated movement in price could be expected with the price getting midline support of the Bollinger bands. Most of the Oscillator indicators are neutral. MACD line has a downward tilt. RSI descended from touching almost 80 and is now at 50.
Volumes have remained low, which is typically witnessed during consolidation phases.
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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.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Feel free to provide your feedback. It would allow me to improve my analysis further!
BTCUSDT saw a sideways movement with the price hitting the upper band of BB and then returning to the midline.
Today’s Trend analysis
BTCUSDT could remain in this consolidation phase, squeezing between the upper band and midline of BB.
Price volatility remained at approximately 1.6%
Price at the time of publishing: $38,709.41
BTC's market cap: $724.58 Billion
Oscillator indicators are mostly neutral. RSI is at 50
Moving average indicators are suggesting a bearish move. Both the short term, SMA and EMA are signalling a bearish momentum.
A consolidated movement in price could be expected with the price getting midline support of the Bollinger bands. Most of the Oscillator indicators are neutral. MACD line has a downward tilt. RSI descended from touching almost 80 and is now at 50.
Volumes have remained low, which is typically witnessed during consolidation phases.
----------------------------------------------------------------------------------------
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.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
----------------------------------------------------------------------------------------
Feel free to provide your feedback. It would allow me to improve my analysis further!