BTCUSD to see a slight uptrend(4Hr) | Bollinger band squeeze

23 thg 11, 2020

Market in last 24hrs

• BTCUSD saw an upward movement with the price observing support at the lower Bollinger band
  
• Price volatility was high. The market moved ~6.62%, between 18.777k and 17.610k

Today’s Trend analysis

• BTCUSD expected to see a slight uptrend as the price observed lower band support and Bollinger band squeeze taking place
  
• Price at time of publishing: $18,629
  
• BTC’s market cap: $345 Billion
  
• Oscillator indicators are mostly neutral. RSI at 58
  
• Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  
• Volume indicators observed a change from an increase in volume with price decline to an increase in volume with the price increase
  

Price expected to see a slight uptrend as the price observed lower band support and Bollinger band squeeze taking place. Most of the Oscillator indicators are neutral. MACD line moving below the signal line, with the histogram size decreasing in the negative region suggesting bearish bias. RSI at 58, in the neutral region above the midline. CCI at around 43, in the neutral region with a slight up move. Another interesting point to notice here is that the volume observed a change from an increase in volume with price decline to an increase in volume with the price increase indicating a shift from sellers to buyers.
----------------------------------------------------------------------------------------

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 .

----------------------------------------------------------------------------------------

If you find the analysis useful, please like and share our ideas with the community as well as follow to stay updated with new ideas!

- Mudrex