BTCUSD to see a potential breakout(4Hr) | Gap up expected

Market in last 24hrs

• BTCUSD saw a consolidation after the price declined to reach the lower band
  
• Price volatility was high. The market moved ~5.58%, between $19100k and $18061k
  

Today’s Trend analysis

• BTCUSD expected to see a breakout as the price observed lower band support with a gap up expected
  
• Price at time of publishing: $18,962
  
• BTC’s market cap: $350 Billion
  
• Oscillator indicators are mostly neutral. RSI at 62
  
• Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
  
• Volume indicators observed an increase in volume with price increase while a decrease in volume was observed with the decline in price
  

Price expected to see a breakout as the price observed lower band support with a gap up expected. 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 62, in the neutral region above the midline. CCI at around 146, in the overbought region indicating a downtrend soon. Another interesting point to notice here is that the volume observed an increase in volume with price increase while a decrease in volume was observed with the decline in price indicating a strong buying 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.

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

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- Mudrex