Market in last 24hrs -BTCUSD saw a slight uptrend -Price volatility was high. Market moved ~2.1%, between 9.1k and 9.31k
Today’s Trend analysis -Uptrend bias shown by indicators, MACD crosses up 0 -Price at time of publishing: $9,291 -BTC’s market cap: $170 Billion -Oscillator indicators are mostly neutral. RSI at 55 -Moving average indicators are biased towards uptrend. Ichimoku Cloud is neutral -Volume indicators are mostly neutral with low volumes on both sides
Price expected to move with a upward bias as MACD crosses up 0 . Most of the Oscillator indicators are neutral. MACD crosses up 0, histogram increasing in size, which is a strong bullish sign. RSI above midline around 55, which is a weak bullish sign. CCI crossed above +100, this could lead to a strong trend as CCI attempted to cross +100 a few candles before . Another interesting point to notice here is that price has been in the upper part of bollinger band in this low volatility zone which creates an uptrend bias. ----------------------------------------------------------------------------------------
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 .
Good work. I suggest looking at higher time-frames to understand the momentum of the overall market and then use lower time-frames such as 4-hour more for entry/exit triggers.
Mudrex
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@Sparkster, Thanks for the suggestion! Surely will include multi-time frame analysis in coming posts.
Mudrex
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DM to get details of the above analysis and list of indicator & their values used to arrive at the above conclusion.
Mudrex
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Note: Above analysis would hold true if we do not encounter sudden jump in trade volume.