BTC to see a slight downtrend(4Hr)! | Bollinger Band expands

2020年8月18日

Market in last 24hrs
-BTCUSD saw a strong uptrend after rejecting from $12473
-Price volatility was high. The market moved ~5.6%, between 12.47k and 11.81k

Today’s Trend analysis
-BTCUSD expected to see a slight downtrend as Bollinger band expands with lower highs
-Price at time of publishing: $12,213
-BTC’s market cap: $226 Billion
-Oscillator indicators are mostly neutral. RSI at 65
-Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
-Volume indicators observed a sudden spike and decreased thereafter

Price expected to see a slight downtrend as Bollinger band expands with lower highs observed. Most of the Oscillator indicators are neutral. MACD above the signal line with histogram decreasing in size in a positive direction. RSI at 65, above the midline still in the neutral region. CCI at 93, in the neutral region, saw a pullback from 445 i.e. from the overbought region. Another interesting point to notice here is that the volume saw a sudden spike with a large blue candle and a decrease thereafter.
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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 .

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- Mudrex