Bitcoin: USD/BTC (BTC=X) Top Cryptos See Minor Losses

Bitcoin: USD/BTC (BTC=X) Top Cryptos See Minor Losses

Bitcoin: USD/BTC (BTC=X) Top Cryptos See Minor Losses

Most of the top 20 cryptocurrencies are reporting minor losses on the day by press time. Bitcoin (BTC) has fallen under the $3,650 mark again, according to Coin360 data.

At press time, Bitcoin is down 0.18 percent on the day, trading at around $3,631, after a brief mid-day high of $3,680, according to CoinMarketCap data. Looking at its weekly chart, the coin has mostly traded sideways for the past week. The current price is about 0.3 percent lower than $3,643, the price at which Bitcoin started the week.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 3,954.50.

The projected lower bound is: 3,377.72.

The projected closing price is: 3,666.11.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black 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 32.6374. This is not an overbought or oversold reading. The last signal was a buy 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 57.00. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 63 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 96. This is not a topping or bottoming area. The last signal was a sell 6 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 13 period(s) ago.

Rex Takasugi – TD Profile

FOREX BTC= closed up 94.520 at 3,669.060. Volume was 56% below average (consolidating) and Bollinger Bands were 64% narrower than normal.

Open High Low Close Volume___
3,574.5403,846.5003,556.7003,669.060 36,467

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 3,612.80 3,615.24 5,199.14
Volatility: 38 50 65
Volume: 68,148 71,894 78,114

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 29.4% below its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of BTC= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on BTC= and have had this outlook for the last 7 periods.

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