BTCUSD to move sideways | Price between upper band and midline

Market in last 24hrs

• BTCUSD saw a slight uptrend with the price moving in the upper half of the Bollinger band
  
• Price volatility was high. The market moved ~6.13%, between $18.421k and $17.356k
  

Today’s Trend analysis

• BTCUSD expected to see a sideways movement as the price is moving between the upper band and midline
  
• Price at time of publishing: $18,278
  
• BTC’s market cap: $339 Billion
  
• Oscillator indicators are mostly neutral. RSI at 68
  
• Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  
• Volume indicators observed an increase in volume as the price increased while the volume decreased with a decline in price
  

Price expected to see a sideways movement as the price is moving between the upper band and midline. Most of the Oscillator indicators are neutral. MACD line approaching the signal line from below, with the histogram size decreasing in the negative region suggesting bearish bias. RSI at 68, in the neutral region above the midline. CCI at around 126, in the overbought region indicating a downtrend. Another interesting point to notice here is that the volume observed an increase in volume as the price increased while the volume decreased with a decline in price indicating a strong buying 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.

Note: Above analysis would hold true if we do not encounter sudden jump in trade volume .

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- Mudrex