Mudrex

BTCUSD expected to see an uptrend | Might bounce from midline BB

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

-BTCUSD got rejected from 11.2k, saw a downmove in recent candle
-Price volatility was high. Market moved ~4.41%, between $11.3k and $10.86k

Today’s Trend analysis
-BTCUSD expected to see an uptrend
-Price at time of publishing: $10,908
-BTC’s market cap: $202 Billion
-Oscillator indicators are mostly neutral. RSI at 60
-Moving average indicators are biased towards uptrend. Ichimoku Cloud is neutral
-Volume indicators are indicating a low volatility ahead. Recent red candles saw low volumes indicating weak selling pressure.

Price expected to see an uptrend after bouncing from midline Bollinger Band Most of the Oscillator indicators are neutral. MACD histogram is negative, size increasing in the downward direction and has crossed zero, indicating a bearish sign. RSI at 60, trending downwards, still above midline indicating bearish signal. CCI is around 3, and still in neutral region about to cross down zero signaling a downward momentum. Another interesting point to notice here is that the recent red candles saw decreasing volumes indicating weak selling 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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