BTCUSD to see an uptrend(4Hr)! | Bollinger band expands

2020년 8월 26일

Market in last 24hrs
-BTCUSD price consolidated with getting support from lower band
-Price volatility was high. The market moved ~4.62%, between 11.6k and 11.1k

Today’s Trend analysis
-BTCUSD expected to see an uptrend as got support from lower band with Bollinger band expanding
-Price at time of publishing: $11,391
-BTC’s market cap: $210 Billion
-Oscillator indicators are mostly neutral. RSI at 38
-Moving average indicators are indicating a downtrend. Ichimoku Cloud is neutral
-Volume indicators observed high value for red candles suggesting strengthened selling pressure.

Price expected to see an uptrend as got support from lower band with Bollinger band expanding as the price is trading between the bands. Most of the Oscillator indicators are neutral. MACD below the signal line, with histogram size decreasing in negative direction. RSI at 38, below the midline still in the neutral region. CCI at -83, in the neutral region with an up move. Another interesting point to notice here is that the volume in the recent red candles was high suggesting 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 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