Get started

Redcandle

BTCUSD to move sideways | RSI drops from 81 to 49!Analysis Summary -Market in last 24hrs -BTCUSD moved sideways after a big fall -Price volatility was high. Market moved ~14.59%, between $12.1k and $10.55k Today’s Trend analysis -BTCUSD expected to move sideways below bollinger mid-line -Price at time of publishing: $11,205 -BTC’s market cap: $205 Billion -Oscillator indicators are mostly neutral. RSI at 49 -Moving average indicators are biased towards uptrend. Ichimoku Cloud is neutral -Volume indicators are indicating no support for the downtrend as volumes decreased after the recent big red candle. Price expected to see a sideways movement as price bounces from lower bollinger band. Most of the Oscillator indicators are neutral. MACD histogram is negative, size decreasing in the negative region indicating slowing downtrend. RSI at 49, around midline after a drop from 81 and recovered to reach the midline indicating an upmove. CCI at -56, still in neutral region suggesting a sideways movement. Another interesting point to notice here is that the price bounced from the lower bollinger band suggesting that the downtrend might not continue. ---------------------------------------------------------------------------------------- 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
BITSTAMP:BTCUSD
by Mudrex
4