BTCUSD - Weak Downtrend Today. Price Technical Analysis #54

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.

This is #54 of BTCUSD daily technical analysis, provided by Mudrex.

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

Market in last 24 hrs
- BTC price has been consolidated in range $7,050 – $7,250
- Price at time of publishing: $7,060
- BTC’s market cap: $131 Billion

Today’s Trend analysis
Price should see a weak downtrend today. Oscillators are mostly neutral but CCI is nearing over-sold zone and RSI is below 50. MACD is indicating a sell opportunity. Overall, a down-trending momentum is gaining strength.
Another interesting point to notice is the correlation between US stock markets (S&P500, etc) and BTC price, which is at currently trending at its all time high.
- Weak downtrend today
- ‘Oscillator‘ indicators are mostly neutral. RSI is below 50 mark
- ‘Moving average‘ indicators are are mixed

DM for to get more details and indicator list & values on which the analysis is based.

If you find the analysis useful, please like & subscribe and share our ideas & charts with the community!

Note: Above analysis would hold true if we do not encounter sudden jump in trade volume.

交易結束：達到停損點

Traditional markets are falling now. Hence, analysis is now invalid.

BTCUSD price expected to fall sharply.

手動結束交易

As predicted, BTCUSD and other global markets saw a steep downtrend during oil price crash.

BTCUSD is recovering like the other markets now.