BTCUSD to continue downtrend | Good volumes observed!
Market in last 24hrs
-BTCUSD saw a big downtrend
-Price volatility was high. Market moved ~3.3%, between 9.1k and 9.43k
Today’s Trend analysis
-Downtrend to continue, expected to remain in bollinger band’s range
-Price at time of publishing: $9,172
-BTC’s market cap: $169 Billion
-Oscillator indicators are mostly neutral. RSI at 42
-Moving average indicators are biased towards downtrend. Ichimoku Cloud is neutral
-Volume indicators are supporting downtrend
Price expected to continue downtrend as indicators turn negatice. Most of the Oscillator indicators are neutral. MACD crosses down 0, histogram decreasing in size, which is a bearish sign. RSI below midline around 40, further down move can bring it in overbought zone. CCI crossed below -100 which is a weak bullish sign. Another interesting point to notice here is that price bounced twice from lower bollinger band, creating candle low’s there. It suggests price might remain inside bollinger for the coming day.
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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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If you find the analysis useful, please like and share our ideas with the community!
- Mudrex
-BTCUSD saw a big downtrend
-Price volatility was high. Market moved ~3.3%, between 9.1k and 9.43k
Today’s Trend analysis
-Downtrend to continue, expected to remain in bollinger band’s range
-Price at time of publishing: $9,172
-BTC’s market cap: $169 Billion
-Oscillator indicators are mostly neutral. RSI at 42
-Moving average indicators are biased towards downtrend. Ichimoku Cloud is neutral
-Volume indicators are supporting downtrend
Price expected to continue downtrend as indicators turn negatice. Most of the Oscillator indicators are neutral. MACD crosses down 0, histogram decreasing in size, which is a bearish sign. RSI below midline around 40, further down move can bring it in overbought zone. CCI crossed below -100 which is a weak bullish sign. Another interesting point to notice here is that price bounced twice from lower bollinger band, creating candle low’s there. It suggests price might remain inside bollinger for the coming day.
----------------------------------------------------------------------------------------
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 .
----------------------------------------------------------------------------------------
If you find the analysis useful, please like and share our ideas with the community!
- Mudrex
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