BTCUSD to see a downtrend(4Hr) | Selling pressure | Bearish MACD

Market in last 24hrs

• BTCUSD saw a downtrend with midline changing from support to resistance
  
• Price volatility was very high. The market moved ~6.39%, between $13.71k and $12.89k
  

Today’s Trend analysis

• BTCUSD expected to see a downtrend as the price after getting the midline support soon turned into resistance to see a downmove
  
• Price at time of publishing: $13,142
  
• BTC’s market cap: $243 Billion
  
• Oscillator indicators are mostly neutral. RSI at 47
  
• Moving average indicators are indicating a downtrend Ichimoku Cloud is neutral
  
• Volume indicators observed an increase as the price saw a decline followed by a decrease in volume as the price increase
  

Price expected to see a downtrend as the price after getting the midline support soon turned into resistance to see a downmove. 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 47, in the neutral region with a downmove. CCI at around -60, in the neutral region with a downmove. Another interesting point to notice here is that the volume observed an increase as the price saw a decline followed by a decrease in volume as the price increased indicating 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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