BTCUSD to see a downtrend(4Hr)! | Midline rejection, time to sel

Market in last 24hrs

• BTCUSD consolidated followed by rejection from the upper band
  
• Price volatility was high. The market moved ~3.96%, between $10.99k and $10.57k
  

Today’s Trend analysis

• BTCUSD expected to see a downtrend as the price got rejected from the midline with the Bollinger band expansion taking place
  
• Price at time of publishing: $10,580
  
• BTC’s market cap: $196 Billion
  
• Oscillator indicators are mostly neutral. RSI at 36
  
• Moving average indicators are indicating a downtrend. Ichimoku Cloud is neutral
  
• Volume indicators observed a decrease as the price increased with a spike with a sudden fall in price
  

Price expected to see a downtrend as the price got rejected from the midline with the Bollinger band expansion taking place. Most of the Oscillator indicators are neutral. MACD line moving below the signal line, with the histogram size decreasing in the negative region suggesting bearish bias. RSI at 36, below the midline in the neutral region. CCI at around -240, in the oversold region. Another interesting point to notice here is that the volume observed a decrease as the price increased with a spike with a sudden fall in price indicating a strong 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