BTCUSD to see a potential breakout(4Hr)! |Double Bottom Observed
Market in last 24hrs
-BTCUSD saw an uptrend with relatively low volume
-Price volatility was low. The market moved ~2.5%, between $11.8k and $11.5k
Today’s Trend analysis
-BTCUSD expected to see an uptrend as potential breakout is expected owing to double bottoms being observed
-Price at time of publishing: $11,787
-BTC’s market cap: $217 Billion
-Oscillator indicators are mostly neutral. RSI at 56
-Moving average indicators are indicating towards an 4uptrend. Ichimoku Cloud is neutral
-Volume indicators observed were relatively low and had similar value
Price expected to see an uptrend as double bottom is observed suggesting a potential breakout. Most of the Oscillator indicators are neutral. MACD crossed above the signal line, with histogram size increasing in the positive direction. RSI at 56, above the midline still in the neutral region with an up move. CCI at 133, in the overbought region, suggesting a downtrend. Another interesting point to notice here is that the volume in the recent candles was having a similar value being relatively low, confirming the double bottom formation.
----------------------------------------------------------------------------------------
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 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
-BTCUSD saw an uptrend with relatively low volume
-Price volatility was low. The market moved ~2.5%, between $11.8k and $11.5k
Today’s Trend analysis
-BTCUSD expected to see an uptrend as potential breakout is expected owing to double bottoms being observed
-Price at time of publishing: $11,787
-BTC’s market cap: $217 Billion
-Oscillator indicators are mostly neutral. RSI at 56
-Moving average indicators are indicating towards an 4uptrend. Ichimoku Cloud is neutral
-Volume indicators observed were relatively low and had similar value
Price expected to see an uptrend as double bottom is observed suggesting a potential breakout. Most of the Oscillator indicators are neutral. MACD crossed above the signal line, with histogram size increasing in the positive direction. RSI at 56, above the midline still in the neutral region with an up move. CCI at 133, in the overbought region, suggesting a downtrend. Another interesting point to notice here is that the volume in the recent candles was having a similar value being relatively low, confirming the double bottom formation.
----------------------------------------------------------------------------------------
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 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
