BTCUSD to see a downtrend(4Hr) | Upper band rejection

Market in last 24hrs

• BTCUSD saw an uptrend followed by getting a rejection from upper band
  
• Price volatility was high. The market moved ~3.92%, between $11.64k and $11.21k
  

Today’s Trend analysis

• BTCUSD expected to see a downtrend as the price after trading inside the bands got resistance from the upper band
  
• Price at time of publishing: $12,329
  
• BTC’s market cap: $209 Billion
  
• Oscillator indicators are mostly neutral. RSI at 46
  
• Moving average indicators are indicating a downtrend Ichimoku Cloud is neutral
  
• Volume indicators observed from increasing with the price increase to an increase in volume with price decline
  

Price expected to see a downtrend as the price after trading inside the bands got resistance from the upper band. Most of the Oscillator indicators are neutral. MACD line crossed below the signal line, with the histogram size decreasing in the negative region suggesting bearish bias. RSI at 46, below the midline in the neutral region. CCI at around -113, in the oversold region indicating an uptrend. Another interesting point to notice here is that the volume observed from increasing with the price increase to an increase in volume with price decline suggesting a shift from buyers to sellers.
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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