BTC/USD technical analysis January 4

04.01.2019 09:42:45

At the moment, BTC/USD is moving around $3.945. The market capitalization of Bitcoin is $66.522 billion. 24-hour trading volume is $2.766 billion. Bitcoin shows 6.2% weekly growth.

1-hour chart

The hourly chart shows an uptrend that started at $3.686 and is currently running. This uptrend tended to decline around $4.000, which lasted up to 3850-3900. Bitcoin received support near 3.800 area.

btcusd-hourly-4-January.jpg

The Awesome Oscillator indicator demonstrates a bullish momentum that is starting to lose strength.

The MACD indicator line is under the signal line, which indicates the activation of bears.

The RSI shows that the pressure between sellers and buyers is about the same.

Daily chart

On the daily chart, you can see a pronounced downward trend, which began near $6.500 and lasted to $3.300. In the long term, Bitcoin grew by only a few percents. At the same time, the resistance level for Bitcoin moved to $4.200, while the resistance level remained at $3.300.

btcusd-daily-4-Januay.jpg

Bollinger bands seem to converge, indicating a decrease in market volatility. At the same time, the middle line of the indicator moves under the price candles, which indicates the predominance of bulls on the market at the moment.

Parabolic SAR indicator, on the contrary, indicates bearish sentiment in the market.

Chaikin's cash flow moves near zero, which indicates bearish sentiment.

Conclusion

According to the indicators, the Awesome Oscillator and the Bollinger Bands show the bulls domination. But all the other indicators are talking about the bears coming soon. At the moment, bulls dominate the market, but bears can seize the initiative at any time.