BTC to see a slight uptrend(4Hr)! | Lower & midline band as S/R
Market in last 24hrs
-BTCUSD saw a sideways movement with getting resistance and support from midline and lower band resectively
-Price volatility was high. The market moved ~3.44%, between 11.66k and 11.27k
Today’s Trend analysis
-BTCUSD expected to see a slight uptrend further as it got support from Lower Bollinger Band
-Price at time of publishing: $11,576
-BTC’s market cap: $214 Billion
-Oscillator indicators are mostly neutral. RSI at 48.
-Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
-Volume indicators observed ups and downs as price moved sideways being below the 20-candle moving average
Price expected to see a slight uptrend as lower band and midline band acting as support resistance levles. Most of the Oscillator indicators are neutral. MACD approaching the signal line from below with histogram decreasing in size in negative direction. RSI at 48, below midline with an upmove in the neutral region. CCI at -18, in the neutral region, got back from oversold region with an upmove. Another interesting point to notice here is that the the volume saw ups and downs as price moved sideways but being below the 20-candle moving average.
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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 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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If you find the analysis useful, please like and share our ideas with the community!
- Mudrex
-BTCUSD saw a sideways movement with getting resistance and support from midline and lower band resectively
-Price volatility was high. The market moved ~3.44%, between 11.66k and 11.27k
Today’s Trend analysis
-BTCUSD expected to see a slight uptrend further as it got support from Lower Bollinger Band
-Price at time of publishing: $11,576
-BTC’s market cap: $214 Billion
-Oscillator indicators are mostly neutral. RSI at 48.
-Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
-Volume indicators observed ups and downs as price moved sideways being below the 20-candle moving average
Price expected to see a slight uptrend as lower band and midline band acting as support resistance levles. Most of the Oscillator indicators are neutral. MACD approaching the signal line from below with histogram decreasing in size in negative direction. RSI at 48, below midline with an upmove in the neutral region. CCI at -18, in the neutral region, got back from oversold region with an upmove. Another interesting point to notice here is that the the volume saw ups and downs as price moved sideways but being below the 20-candle moving average.
----------------------------------------------------------------------------------------
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 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 .
----------------------------------------------------------------------------------------
If you find the analysis useful, please like and share our ideas with the community!
- Mudrex
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