BTCUSD to see a downtrend(4Hr) | Local Support Line Observed
Market in last 24hrs
Today’s Trend analysis
Price expected to see a slight downtrend as the price is riding the midline band with the support line to extend and price to decline till support line. Most of the Oscillator indicators are neutral. MACD line moving below the signal line, with the histogram size increasing in the negative region suggesting bearish bias. RSI at 47, below the midline in the neutral region. CCI at around -55, in the neutral region. Another interesting point to notice here is that the volume observed an increase as price increased while a decrease as price saw a decline indicating strengthened buying pressure.
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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.
DM to get details of the above analysis and list of indicators & their values used to arrive at the above conclusion.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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- Mudrex
- BTCUSD saw a downtrend after moving above the midline Bollinger band
- Price volatility was low. The market moved ~2.1%, between 10.86k and 10.63k
Today’s Trend analysis
- BTCUSD expected to see a slight downtrend as the price is riding the midline band with the support line to extend and price to decline till the support line
- Price at time of publishing: $10,677
- BTC’s market cap: $197 Billion
- Oscillator indicators are mostly neutral. RSI at 47
- Moving average indicators are indicating a downtrend Ichimoku Cloud is neutral
- Volume indicators from observed an increase as price decreased while a decrease as price saw an increase
Price expected to see a slight downtrend as the price is riding the midline band with the support line to extend and price to decline till support line. Most of the Oscillator indicators are neutral. MACD line moving below the signal line, with the histogram size increasing in the negative region suggesting bearish bias. RSI at 47, below the midline in the neutral region. CCI at around -55, in the neutral region. Another interesting point to notice here is that the volume observed an increase as price increased while a decrease as price saw a decline indicating strengthened buying pressure.
----------------------------------------------------------------------------------------
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.
DM to get details of the above analysis and list of indicators & their values used to arrive at the above conclusion.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
----------------------------------------------------------------------------------------
If you find the analysis useful, please like and share our ideas with the community as well as follow to stay updated with new ideas!
- Mudrex
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