BTCUSD to see sideways movement(4Hr) | Bollinger Band squeeze

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Market in last 24 hours

  • BTCUSD saw a sideways movement with a gap down being observed
  • Price volatility was very high. The market moved ~6.05%, between $10.4k and $9.8k

Today’s Trend analysis

  • BTCUSD expected to see a sideways movement as the price saw a series of higher lows and lower highs with Bollinger band squeeze
  • Price at time of publishing: $10,208
  • BTC’s market cap: $189 Billion
  • Oscillator indicators are mostly neutral. RSI at 35
  • Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  • Volume indicators observed an increase in volume as the price falls and then decreased as the price started to increase suggesting a strong selling pressure

Price expected to see a sideways movement as the price saw a series of higher lows and lower highs with Bollinger band squeeze. Most of the Oscillator indicators are neutral. MACD crossed above the signal line with histogram size increasing in the positive direction suggesting a bullish bias. RSI at 35, below the midline, still in the neutral region. CCI is around -50, in the neutral region with a slight up move. Another interesting point to notice here is that the volumes observed an increase in volume as the price falls and then decreased as the price started to increase suggesting a strong selling pressure.

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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 4Hr 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