BTCUSD to see a slight uptrend(4Hr) | Bollnger Band expands

Market in last 24hrs
-BTCUSD saw an uptrend breaking the upper band reaching 11.95k
-Price volatility was high. The market moved ~3.75%, between 11.95k and 11.52k

Today’s Trend analysis
-BTCUSD expected to see a slight uptrend as the price is trading between upper and midline band with Bollinger band expanding
-Price at time of publishing: $11,916
-BTC’s market cap: $220 Billion
-Oscillator indicators are mostly neutral. RSI at 68
-Moving average indicators are indicating an uptrend. Ichimoku Cloud is neutral
-Volume indicators observed an increase in the recent candles with a spike observed for a blue candle

Price expected to see a slight uptrend as the price is trading between upper and midline band with Bollinger band expanding. Most of the Oscillator indicators are neutral. MACD moving above the signal line, with histogram size increasing in the positive direction. RSI at 68, above to the midline still in the neutral region. CCI at around 197, in the overbought region with a slight donwmove indicating a downtrend. Another interesting point to notice here is that the volume in the recent candles saw an increase with a spike for a blue candle suggesting a strong 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 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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- Mudrex
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