BTCUSD - Local Downtrend isn't over yet.
Market in last 24hrs
- BTCUSD price moved down
- Price volatility was high. Market moved ~4.5%, between 9k and 9.4k
Today’s Trend analysis
- Weak downtrend today
- Price at time of publishing: $9,270
- BTC’s market cap: $167 Billion
- Oscillator indicators are neutral. RSI at 43
- Moving average indicators are indicating a downtrend. Ichimoku Cloud is neutral
- Volume indicators are supporting the downtrend
Price expected to continue downtrend today. Most of the Oscillator indicators are neutral with a strong bias towards downside. MACD line is trending down and is below 0 with MACD histogram in negative zone, indicating that the overall trend is now negative. RSI is trending down, moving near 43. CCI, the more reactive oscillator, is now near -100, indicating the bears have gained strength. Another interesting point to notice is that on balance volume indicator, which is a leading indicator, is trending slightly down. All factors indicating that bears are stronger. Overall, price is expected to move down today.
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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 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
- BTCUSD price moved down
- Price volatility was high. Market moved ~4.5%, between 9k and 9.4k
Today’s Trend analysis
- Weak downtrend today
- Price at time of publishing: $9,270
- BTC’s market cap: $167 Billion
- Oscillator indicators are neutral. RSI at 43
- Moving average indicators are indicating a downtrend. Ichimoku Cloud is neutral
- Volume indicators are supporting the downtrend
Price expected to continue downtrend today. Most of the Oscillator indicators are neutral with a strong bias towards downside. MACD line is trending down and is below 0 with MACD histogram in negative zone, indicating that the overall trend is now negative. RSI is trending down, moving near 43. CCI, the more reactive oscillator, is now near -100, indicating the bears have gained strength. Another interesting point to notice is that on balance volume indicator, which is a leading indicator, is trending slightly down. All factors indicating that bears are stronger. Overall, price is expected to move down today.
----------------------------------------------------------------------------------------
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 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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