BTC expected to move sideways(1D) | Lower band acting as support

Market in last 1 week
-BTCUSD saw a sideways movement with price rejecting from midline band and getting support from the lower band
-Price volatility was very high. The market moved ~6.49%, between 11.8k and 11.1k

Today’s Trend analysis
-BTCUSD expected to see a sideways movement as price trades between the band with getting support from the lower band
-Price at time of publishing: $11,540
-BTC’s market cap: $213 Billion
-Oscillator indicators are mostly neutral. RSI at 51
-Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
-Volume indicators observed an increase in volume reaching a high at 20-candle moving average and decreasing thereafter

Price expected to see a sideways movement as price trades between the band with getting support from the lower band. Most of the Oscillator indicators are neutral. MACD moving below the signal line with histogram size decreasing in the negative direction suggesting a bearish bias. RSI at 52, above the midline, still in the neutral region. CCI is around -57, also in the neutral region. Another interesting point to notice here is that the volumes observed an increase in volume reaching a high at 20-candle moving average and decreasing thereafter.
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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 1 D 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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