BTCUSD saw an uptrend followed by a decline in price to reach the midline support
Price volatility was high. The market moved ~5.85%, between 19469k and 18392k
Today’s Trend analysis
BTCUSD expected to see an uptrend as the price observed midline support with the Bollinger band started to expand
Price at time of publishing: $19,301
BTC’s market cap: $357 Billion
Oscillator indicators are mostly neutral. RSI at 62
Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
Volume indicators observed an increase in volume with price increase followed by a decrease in volume with the decline in price
Price expected to see an uptrend as the price observed midline support with the Bollinger band started to expand. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size decreasing in the positive region suggesting bullish bias. RSI at 62, in the neutral region above the midline. CCI at around 127, in the overbought region indicating a downtrend soon. Another interesting point to notice here is that the volume observed an increase in volume with price increase followed by a decrease in volume with the decline in price indicating a strong buying 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 4Hr candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .