Accumulation driving prices higher|Watchout for selling pressure
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Quick glance: As of now, BTCUSD is on a steady rise. The rise in other Altcoins is even much higher. However, an interesting observation issue that the volumes have not increased over the past 24 hours. It could indicate accumulation that is pushing prices higher.
Our previous analysis on BTCUSD explored the contrasting difference between the technical indicators and the momentum observed in BTC.
Market in the last 24hrs
BTC went higher by approximately 5%.
Today’s Trend analysis
The trend based Fbonacci extension shows the different zones for the price to rebound. We are likely to see some consolidation in the short term if volume remains low.
Price volatility remained high at approximately 6.4%, with the day's range between $34240.00 — $36432.80.
Price at the time of publishing: $36220.84
BTC's market cap: $680.85 Billion
Out of 11 Oscillator indicators, 9 are neutral,1 indicates to a bullish outlook, and 1 is bearish .
Out of 15 Moving average indicators, 13 are 'NEUTRAL', 1 is bearish and 1 is bullish.
Indicator summary is giving a 'BUY' signal on BTCUSD .
Volumes have remained high in the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
Quick glance: As of now, BTCUSD is on a steady rise. The rise in other Altcoins is even much higher. However, an interesting observation issue that the volumes have not increased over the past 24 hours. It could indicate accumulation that is pushing prices higher.
Our previous analysis on BTCUSD explored the contrasting difference between the technical indicators and the momentum observed in BTC.
Market in the last 24hrs
BTC went higher by approximately 5%.
Today’s Trend analysis
The trend based Fbonacci extension shows the different zones for the price to rebound. We are likely to see some consolidation in the short term if volume remains low.
Price volatility remained high at approximately 6.4%, with the day's range between $34240.00 — $36432.80.
Price at the time of publishing: $36220.84
BTC's market cap: $680.85 Billion
Out of 11 Oscillator indicators, 9 are neutral,1 indicates to a bullish outlook, and 1 is bearish .
Out of 15 Moving average indicators, 13 are 'NEUTRAL', 1 is bearish and 1 is bullish.
Indicator summary is giving a 'BUY' signal on BTCUSD .
Volumes have remained high in the past 24 hours.
----------------------------------------------------------------------------------------
The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
----------------------------------------------------------------------------------------
Keep supporting:)
-Mudrex
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