BTCUSD to see an uptrend(4Hr)! | Ascending Triangle observed

2020년 9월 14일

Market in last 24hrs

• BTCUSD consolidated after getting support from the lower band
  
• Price volatility was high. The market moved ~3.43%, between 10.56k and 10.21k

Today’s Trend analysis

• BTCUSD expected to see an uptrend as the price is moving in the ascending triangle with Bollinger band squeeze continued
  
• Price at time of publishing: $10,454
  
• BTC’s market cap: $193 Billion
  
• Oscillator indicators are mostly neutral. RSI at 56
  
• Moving average indicators are indicating an uptrend. Ichimoku Cloud is neutral
  
• Volume indicators observed an increase in value for the red candle and decreased for the next blue candle followed by an increase
  

Price expected to see an uptrend as the price is moving in the ascending triangle with Bollinger band squeeze continued. Most of the Oscillator indicators are neutral. MACD line crossed above the signal line, with the histogram in the positive direction. RSI at 56, above the midline in the neutral region. CCI at around 48, in the neutral region with an up move. Another interesting point to notice here is that the volume observed an increase in value for the red candle and decreased for the next blue candle followed by an increase indicating a strengthening buying pressure.
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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 4Hr 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