BTC to see an uptrend(1D) | Lower highs seen with BB squeeze

19 Sep 2020

Market in last 1 week

• BTCUSD saw an uptrend after riding the lower band, now breaking the midline
  
• Price volatility was very high. The market moved ~8.69%, between 11.09k and 10.21k

Today’s Trend analysis

• BTCUSD expected to see an uptrend as lower highs were observed with Bollinger band squeeze
  
• Price at time of publishing: $11,957
  
• BTC’s market cap: $202 Billion
  
• Oscillator indicators are mostly neutral. RSI at 52
  
• Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  
• Volume indicators observed an increase in volume with blue candles while decreased for red candles
  
  Price expected to see an uptrend as lower highs were observed with Bollinger band squeeze. Most of the Oscillator indicators are neutral. MACD moving above the signal line with histogram size increasing in the positive direction suggesting a bullish bias. RSI at 52, above the midline, still in the neutral region. CCI is around 42, also in the neutral region with an upmove. Another interesting point to notice here is that the volumes observed an increase in volume with blue candles while decreased for red candles indicating a weakening selling pressure.
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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 4Hr candles.
  
  DM to get details of the above analysis and list of indicators & their values used to arrive at the above conclusion.
  
  Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
  
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  - Mudrex