$BTC #Bitcoin #Crypto #Cryptocurrencies #FX #Trading #Markets
Bitcoin
Ticker: BTC=
Price: $19000.00
Bitcoin Outlook
Against a backdrop of rapid gains and the temptation of breaking all-time highs around $20,000, the achievement has not gone unnoticed on Bitcoin figures.
The largest cryptocurrency continued to climb on Tuesday after retesting $18,000, adding over $1,300 to its U.S. dollar price in under 24 hours.
Slowly but surely this is beginning to look like (the start of) a bull market.
Technical Indicators
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 15,646.08.
The projected upper bound is: 20,445.99.
The projected lower bound is: 18,306.87.
The projected closing price is: 19,376.43.
Candlesticks
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles. During the past 50 bars, there have been 36 white candles and 14 black candles for a net of 22 white candles.
Momentum Indicators
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 75.8107. This is not an overbought or oversold reading. The last signal was a sell 2 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 83.20. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 18 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 105.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 3 period(s) ago.
MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 49 period(s) ago.
Rex Takasugi – TD Profile
FOREX BTC= closed up 254.230 at 19,203.270. Volume was 87% below average (consolidating) and Bollinger Bands were 120% wider than normal.
Open High Low Close Volume 18,949.051 19,235.971 18,861.721 19,203.270 76,696
Technical Outlook Short Term: Overbought Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 18,239.20 14,286.70 11,212.10 Volatility: 35 48 48 Volume: 712,970 568,386 591,443
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary
FOREX BTC= is currently 71.3% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.
Our volume indicators reflect moderate flows of volume into BTC= (mildly bullish). Our trend forecasting oscillators are currently bullish on BTC= and have had this outlook for the last 59 periods. Our momentum oscillator is currently indicating that BTC= is currently in an overbought condition. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.
