BTC to see an uptrend(4Hr)! | Ichimoku forms green cloud

19 авг. 2020 г.

Market in last 24hrs
-BTCUSD saw a downtrend with price moving below the midline
-Price volatility was high. The market moved ~5.87%, between 12.29k and 11.61k

Today’s Trend analysis
-BTCUSD expected to see an uptrend as price got support from lower band with a green cloud formation
-Price at time of publishing: $11,831
-BTC’s market cap: $218 Billion
-Oscillator indicators are mostly neutral. RSI at 45
-Moving average indicators are biased towards a downtrend. Ichimoku Cloud is neutral
-Volume indicators observed a sudden spike with a larger red candle and decreased thereafter

Price expected to see an uptrend as Ichimoku cloud forms a green cloud. Most of the Oscillator indicators are neutral. MACD crossed below the signal line with histogram increasing in size in the negative direction. RSI at 45, below the midline still in the neutral region. CCI at -60, in the neutral region, with a downmove. Another interesting point to notice here is that the price saw a support from the lower band suggesting the price to move upwards.
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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