BTC - Bears Are Winning. Trend Reversal Is Here! Downtrend Today
Market in last 24hrs
- As predicted in the previous analysis, BTCUSD price saw a trend reversal
- Market moved ~5%, between $9.25k and $9.62k
Today’s Trend analysis
- Weak downtrend today
- Price at time of publishing: $9,415
- BTC’s market cap: $174 Billion
- ‘Oscillator‘ indicators are mostly neutral. RSI at 55
- ‘Moving average‘ indicators are indicating an uptrend. Ichimoku Cloud is neutral
Price expected to move down today. Most of the Oscillator indicators are neutral. MACD histogram continues to be in positive zone but is trending down. RSI and CCI too are trending down, currently at 55 and 34. CCI crossed down 100. All factors indicating that bulls are loosing strength and bears are now in control. Price has bounced back from upper Bollinger Band. Overall, price is now expected to move down.
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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 .
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If you find the analysis useful, please like and share our ideas with the community!
- As predicted in the previous analysis, BTCUSD price saw a trend reversal
- Market moved ~5%, between $9.25k and $9.62k
Today’s Trend analysis
- Weak downtrend today
- Price at time of publishing: $9,415
- BTC’s market cap: $174 Billion
- ‘Oscillator‘ indicators are mostly neutral. RSI at 55
- ‘Moving average‘ indicators are indicating an uptrend. Ichimoku Cloud is neutral
Price expected to move down today. Most of the Oscillator indicators are neutral. MACD histogram continues to be in positive zone but is trending down. RSI and CCI too are trending down, currently at 55 and 34. CCI crossed down 100. All factors indicating that bulls are loosing strength and bears are now in control. Price has bounced back from upper Bollinger Band. Overall, price is now expected to move down.
----------------------------------------------------------------------------------------
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!
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