BTCUSD to see a slight downtrend(4Hr)! | Lower highs observed
Market in last 24hrs
Today’s Trend analysis
Price expected to see a slight downtrend as the price got rejected from upper band with lower highs observed. Most of the Oscillator indicators are neutral. MACD crossed below the signal line, with histogram changing direction from positive to the negative direction. RSI at 36, below to the midline still in the neutral region. CCI at around -86, in the neutral region pulled back from overbought region indicating a downtrend. Another interesting point to notice here is that the volume in the recent red candles saw a decrease suggesting a weakening 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 4 Hr 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 an uptrend and rejection from the upper band
- Price volatility was high. The market moved ~8.29%, between 12.08k and 11.16k
Today’s Trend analysis
- BTCUSD expected to see a slight downtrend as the price got rejected from upper band with lower highs observed
- Price at time of publishing: $11,358
- BTC’s market cap: $210 Billion
- Oscillator indicators are mostly neutral. RSI at 36
- Moving average indicators are indicating a downtrend. Ichimoku Cloud is neutral
- Volume indicators observed a decrease in the recent red candles being above the 20-candle moving average
Price expected to see a slight downtrend as the price got rejected from upper band with lower highs observed. Most of the Oscillator indicators are neutral. MACD crossed below the signal line, with histogram changing direction from positive to the negative direction. RSI at 36, below to the midline still in the neutral region. CCI at around -86, in the neutral region pulled back from overbought region indicating a downtrend. Another interesting point to notice here is that the volume in the recent red candles saw a decrease suggesting a weakening selling pressure.
----------------------------------------------------------------------------------------
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 4 Hr 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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