Mudrex

BTC still above 10k | RSI in overbought region!

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Market in last 24hrs
-BTCUSD above 10k, price saw a good uptrend
-Price volatility was high. Market moved ~4.8%, between $10.3k and $9.85k

Today’s Trend analysis
-Expect uptrend to continue, might see some consolidation
-Price at time of publishing: $10,248
-BTC’s market cap: $188 Billion
-Oscillator indicators are mostly neutral. RSI at 75
-Moving average indicators are biased towards uptrend. Ichimoku Cloud is neutral
-Volume indicators are indicating continuation in uptrend as green candles saw big volumes while red candles saw less than 20 candle average volume .

Price expected to continue uptrend. Most of the Oscillator indicators are neutral. MACD is postive above 187, increasing histogram is a bullish sign. RSI is trending and at 75, it is above the overbought region since the last few candles. CCI rose above 0 and is in overbought region, which is a bearish sign. Another interesting point to notice here is that price has been going above the upper bollinger band and we might expect some consolidation.

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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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