BTCUSD to move sideways(4Hr)! | Midline support with lower highs
Market in last 24hrs
Today’s Trend analysis
Price expected to see a sideways movement as the price saw a rejection from upper band followed by support from midline and lower highs observed. Most of the Oscillator indicators are neutral. MACD line crossed below the signal line, with the histogram size increasing in the negative region suggesting bearish bias. RSI at 54, above the midline in the neutral region. CCI at around 16, in the neutral region with pullback from overbought. Another interesting point to notice here is that the volume observed ups and downs in the volume with high values for red candles indicating a strong selling 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 4Hr candles.
DM to get details of the above analysis and list of indicators & their values used to arrive at the above conclusion.
Note: Above analysis would hold true if we do not encounter a 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 saw a downtrend followed by support from midline
- Price volatility was high. The market moved ~2.64%, between 11.17k and 10.89k
Today’s Trend analysis
- BTCUSD expected to see a sideways movement as the price saw a rejection from upper band followed by support from midline and lower highs observed
- Price at time of publishing: $10,972
- BTC’s market cap: $203 Billion
- Oscillator indicators are mostly neutral. RSI at 54
- Moving average indicators are indicating an uptrend. Ichimoku Cloud is neutral
- Volume indicators observed ups and downs in the volume with high values for red candles
Price expected to see a sideways movement as the price saw a rejection from upper band followed by support from midline and lower highs observed. Most of the Oscillator indicators are neutral. MACD line crossed below the signal line, with the histogram size increasing in the negative region suggesting bearish bias. RSI at 54, above the midline in the neutral region. CCI at around 16, in the neutral region with pullback from overbought. Another interesting point to notice here is that the volume observed ups and downs in the volume with high values for red candles indicating a strong selling 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 4Hr candles.
DM to get details of the above analysis and list of indicators & their values used to arrive at the above conclusion.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
----------------------------------------------------------------------------------------
If you find the analysis useful, please like and share our ideas with the community!
- Mudrex
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