BTC not yet of the woods|Expect a bumpy weekend
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Quick glance: As of now, Bitcoin has jumped back above the $32,000 mark. We are witnessing some slight consolidation in the 4hr time-frame.
In our previous analysis on BTCUSD, we had correctly predicted the short term rally above $32,000. That is exactly what happened in the past 24 hours.
Market in the last 24hrs
We witnessed some consolidation around the 32k mark over the past 24 hours. Volumes declined a bit.
Today’s Trend analysis
The Bollinger Bands indicate that the market volatility has greatly increased. BTCUSD can be expected to hover around the shown range. We will only turn bullish in the short term if BTC manages to get past the $33,800 level.
Price volatility remained low at approximately 2.21%, with the day's range between $32,213.63 — $32,930.00.
Price at the time of publishing: $32,371.19
BTC's market cap: $607.67 Billion
Volumes have decreased over the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4-hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
Quick glance: As of now, Bitcoin has jumped back above the $32,000 mark. We are witnessing some slight consolidation in the 4hr time-frame.
In our previous analysis on BTCUSD, we had correctly predicted the short term rally above $32,000. That is exactly what happened in the past 24 hours.
Market in the last 24hrs
We witnessed some consolidation around the 32k mark over the past 24 hours. Volumes declined a bit.
Today’s Trend analysis
The Bollinger Bands indicate that the market volatility has greatly increased. BTCUSD can be expected to hover around the shown range. We will only turn bullish in the short term if BTC manages to get past the $33,800 level.
Price volatility remained low at approximately 2.21%, with the day's range between $32,213.63 — $32,930.00.
Price at the time of publishing: $32,371.19
BTC's market cap: $607.67 Billion
- Out of 11 Oscillator indicators, 9 are neutral, 1 is bearish and 1 is bullish.
- Out of 15 Moving average indicators, 1 is 'NEUTRAL', 4 are bearish and 10 are bullish.
- Indicator summary is giving a ‘BUY’ signal on BTCUSD .
Volumes have decreased over the past 24 hours.
----------------------------------------------------------------------------------------
The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4-hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
----------------------------------------------------------------------------------------
Keep supporting:)
-Mudrex
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