BTCUSD to see an uptrend bias | Moving Averages indicating buy

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Market in last 24hrs

-BTCUSD moved sideways, price above 11k
-Price volatility was high. Market moved ~3.02%, between $11.2k and $10.86k

Today’s Trend analysis

-Low volatility ahead with a bullish bias
-Price at time of publishing: $11,050
-BTC’s market cap: $203 Billion
-Oscillator indicators are mostly neutral. RSI at 73
-Moving average indicators are biased towards uptrend. Ichimoku Cloud is neutral
-Volume indicators are indicating a low volatility ahead. Very low volumes observed in recent candles, volumes were less than 20 candles moving average.

Price expected to move upwards, low volatility due to low volumes. Most of the Oscillator indicators are neutral. MACD is positive around 360, histogram size decreasing in last few candles about to cross down zero, indicating a bearish sign. RSI at 73, still in the overbought region indicating bearish opportunity. CCI is above 70, and in neutral region signaling a sideways movement. Another interesting point to notice here is that the candles are making higher lows which indicates a buying pressure.

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


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