BTC expected to move sideways(1D) | Upper band rejection with LH
Market in last 1 week
-BTCUSD saw an uptrend and then rejected from upper band moved downwards
-Price volatility was very high. The market moved ~9.82%, between 12.49k and 11.37k
Today’s Trend analysis
-BTCUSD expected to see a sideways movement as price rejected from the upper band with lower highs observed
-Price at time of publishing: $11,441
-BTC’s market cap: $211 Billion
-Oscillator indicators are mostly neutral. RSI at 51
-Moving average indicators are mostly neutral. Ichimoku Cloud is neutral
-Volume indicators observed a decrease in volume with the lows being observed with blue candles, indicating a weak buying pressure
Price expected to see a sideways movement as price rejected from the upper band with lower highs observed. Most of the Oscillator indicators are neutral. MACD moving below the signal line with histogram size increasing in the negative direction suggesting a bearish bias. RSI at 51, around the midline, still in the neutral region. CCI is around -95, also in the neutral region with a down move. Another interesting point to notice here is that the volumes observe a decrease as the price had fallen with the 20-candle moving average decreasing.
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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 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 an uptrend and then rejected from upper band moved downwards
-Price volatility was very high. The market moved ~9.82%, between 12.49k and 11.37k
Today’s Trend analysis
-BTCUSD expected to see a sideways movement as price rejected from the upper band with lower highs observed
-Price at time of publishing: $11,441
-BTC’s market cap: $211 Billion
-Oscillator indicators are mostly neutral. RSI at 51
-Moving average indicators are mostly neutral. Ichimoku Cloud is neutral
-Volume indicators observed a decrease in volume with the lows being observed with blue candles, indicating a weak buying pressure
Price expected to see a sideways movement as price rejected from the upper band with lower highs observed. Most of the Oscillator indicators are neutral. MACD moving below the signal line with histogram size increasing in the negative direction suggesting a bearish bias. RSI at 51, around the midline, still in the neutral region. CCI is around -95, also in the neutral region with a down move. Another interesting point to notice here is that the volumes observe a decrease as the price had fallen with the 20-candle moving average decreasing.
----------------------------------------------------------------------------------------
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 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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