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BTC saw strong uptrend | MACD indicates consolidation!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Market in last 24hrs
-BTCUSD saw string uptrend, price got rejected from 11k
-Price volatility was very high. Market moved ~10.6%, between $11.4k and $10.31k

Today’s Trend analysis
-Chances of consolidation with an uptrend bias
-Price at time of publishing: $10,886
-BTC’s market cap: $200 Billion
-Oscillator indicators are mostly neutral. RSI at 74
-Moving average indicators are biased towards uptrend. Ichimoku Cloud is neutral
-Volume indicators are indicating a strong uptrend. Very high volumes observed in recent candles suggesting that buying pressure is still intact.

Price expected to consolidate with an uptrend bias as very high volumes were observed . Most of the Oscillator indicators are neutral. MACD is positive around 356, histogram size decrease in last few candles suggesting a consolidation. RSI at 74 ,it is above the overbought region since the last few candles. CCI is above 103, and trending down which is a bearish sign. Another interesting point to notice here is that price bounced from 10500 with a low made there indicating strong buying pressure in that region.
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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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