BTCUSD - Weak Downtrend Today. Price Technical Analysis #54

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.

This is #54 of BTCUSD daily technical analysis, provided by Mudrex.

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Market in last 24 hrs
- BTC price has been consolidated in range $7,050 – $7,250
- Price at time of publishing: $7,060
- BTC’s market cap: $131 Billion

Today’s Trend analysis
Price should see a weak downtrend today. Oscillators are mostly neutral but CCI is nearing over-sold zone and RSI is below 50. MACD is indicating a sell opportunity. Overall, a down-trending momentum is gaining strength.
Another interesting point to notice is the correlation between US stock markets (S&P500, etc) and BTC price, which is at currently trending at its all time high.
- Weak downtrend today
- ‘Oscillator‘ indicators are mostly neutral. RSI is below 50 mark
- ‘Moving average‘ indicators are are mixed

DM for to get more details and indicator list & values on which the analysis is based.

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

Trade chiuso: stop raggiunto:

Traditional markets are falling now. Hence, analysis is now invalid.

BTCUSD price expected to fall sharply.

Trade chiuso manualmente:

As predicted, BTCUSD and other global markets saw a steep downtrend during oil price crash.

BTCUSD is recovering like the other markets now.