BTC takes support at 9150 | CCI in oversold region

14 июл. 2020 г.

Analysis Summary
-Market in last 24hrs
-BTCUSD saw a downtrend
-Price volatility was high. Market moved ~2.5%, between 9.1k and 9.33k

Today’s Trend analysis
-Price sees support at 9150, CCI in oversold region
-Price at time of publishing: $9,180
-BTC’s market cap: $169 Billion
-Oscillator indicators are mostly neutral. RSI at 42
-Moving average indicators are biased towards downtrend. Ichimoku Cloud is neutral
-Volume indicators are indicating a downtrend with volumes seen on red candles

Price expected to take support from 9150 level and go up as it jumped from that level thrice . Most of the Oscillator indicators are neutral. MACD crosses down 0, downward histogram increasing in size, which is a bearish sign. RSI below midline around 40, which is a weak bearish sign. CCI crossed below -100 and is in oversold region, indicating a buying opportunity. Another interesting point to notice here is that if price drops below the support level then it can see a continued downward movement till 9k.
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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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