BTC - Downtrend Today. Bears Are BACK!
Updated
Market in last 24hrs
- BTCUSD price continued consolidation
- Price volatility was low. Market moved just ~2%, between 9.55k and 9.7k
Today’s Trend analysis
- Downtrend today
- Price at time of publishing: $9,470
- BTC’s market cap: $174 Billion
- ‘Oscillator‘ indicators are mostly neutral with a bias towards sell side. RSI at 38
- ‘Moving average‘ indicators are indicating a downtrend. Ichimoku Cloud is neutral
Price expected to trend down today. Most of the Oscillator indicators are neutral but compared to yesterday some have now flipped to indicate a downtrend. MACD histogram continues to be in negative zone and MACD is trending down. RSI and CCI are trending down. RSI is now below the midpoint 50 and CCI is below -100. All factors indicating that bulls have lost strength and bears are in control now. Overall, price is now expected to move downward.
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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 price continued consolidation
- Price volatility was low. Market moved just ~2%, between 9.55k and 9.7k
Today’s Trend analysis
- Downtrend today
- Price at time of publishing: $9,470
- BTC’s market cap: $174 Billion
- ‘Oscillator‘ indicators are mostly neutral with a bias towards sell side. RSI at 38
- ‘Moving average‘ indicators are indicating a downtrend. Ichimoku Cloud is neutral
Price expected to trend down today. Most of the Oscillator indicators are neutral but compared to yesterday some have now flipped to indicate a downtrend. MACD histogram continues to be in negative zone and MACD is trending down. RSI and CCI are trending down. RSI is now below the midpoint 50 and CCI is below -100. All factors indicating that bulls have lost strength and bears are in control now. Overall, price is now expected to move downward.
----------------------------------------------------------------------------------------
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
Trade closed: stop reached
Price bounced off from lower Bollinger Band. It was expected but not in this magnitude.
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