Bitcoin on slippery slope currently, watch out for these levels
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Quick glance: As of now, BTCUSD seems to be under a bit of selling pressure. The rally in the past few days seems to have cooled off for now.
Our previous analysis on BTCUSD, 24 hours back had correctly predicted this selling pressure, even when the "moon boys" were getting pumped up.
Market in the last 24hrs
BTC started facing some selling pressure followed by which, it entered a small consolidation.
Today’s Trend analysis
BTC will likely face some more selling pressure as the short positions across the exchanges are rising. It has multiple support levels till it reaches the
31K level. For now, BTC investors need to watch out for the bears as the price will likely drop a bit from current levels.
Price volatility remained moderate at approximately 4.8%, with the day's range between $34422.93 — $36099.82.
Price at the time of publishing: $34564.84
BTC's market cap: $650.85 Billion
Volumes have decreased 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 .
----------------------------------------------------------------------------------------
Keep supporting:)
-Mudrex
Quick glance: As of now, BTCUSD seems to be under a bit of selling pressure. The rally in the past few days seems to have cooled off for now.
Our previous analysis on BTCUSD, 24 hours back had correctly predicted this selling pressure, even when the "moon boys" were getting pumped up.
Market in the last 24hrs
BTC started facing some selling pressure followed by which, it entered a small consolidation.
Today’s Trend analysis
BTC will likely face some more selling pressure as the short positions across the exchanges are rising. It has multiple support levels till it reaches the
31K level. For now, BTC investors need to watch out for the bears as the price will likely drop a bit from current levels.Price volatility remained moderate at approximately 4.8%, with the day's range between $34422.93 — $36099.82.
Price at the time of publishing: $34564.84
BTC's market cap: $650.85 Billion
- Out of 11 Oscillator indicators, 8 are neutral,1 indicates to a bullish outlook, and 2 are bearish .
- Out of 15 Moving average indicators, 1 is 'NEUTRAL', 10 are bearish and 4 are bullish .
- Indicator summary is giving a 'SELL' signal on BTCUSD .
Volumes have decreased 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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