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Daily Update Bitcoin | What The Technical Analysis Predicts? | FAST&CLEAR | 19.Apr.2020

VIDEO TRANSCRIPT

Hey, fellow crypto enthusiast, welcome to today’s quick trend analysis. Let’s jump right into it. In today’s video, you will find out how the price of bitcoin has changed and what the technical indicators RSI, stochastic RSI and Mac are showing. If you are not familiar with the indicators, check out the explanation videos down below in the description. If we look at the only time frame for Bitcoin, the price went up only slightly with around 0.4 per cent in the last 24 hours with a current price of seven thousand one hundred thirty-one. Jumping to the only relative strength index, the current hourly RSI is at 41, so it doesn’t show signs of overbought or oversold conditions at this point. Looking at the hourly stochastic RSI, both the percent K. and percent declines are currently very low, which means that the price is oversold and a trend change or at least some kind of consolidation is to be expected. You should wait to see if the trend will in fact go up because the Kline has yet to cross the D line. Moving to the alley, Mac D. The Mac D line is below the signal line, which shows that the current trend is on the downside. We can expect for the price to continue going down or perhaps remain at least stable because the Mac de Histograms shows the momentum currently being strong. Looking at the three hourly relative strength index, the current three hourly RSI is at 54, so there are currently no signs of the crypto being overbought or oversold. Looking at the three hourly stochastic RSI, there are no signs of the stochastic RSI being oversold or overbought at this time. But the percent kay line is below the percent decline, which means the current trend is on the downside. Moving to the three hourly max-d, the Mac D-line is above the signal line, which shows that the current trend is on the upside. But according to the Mac de histogram, we can see that the momentum is going down. Owing to this, we can expect the price to remain stable and you should wait and see if the MAC decline will cross the signal line, which will be a downward trend. Generally, the bigger time frames have a bigger impact on the price. So please keep that in mind when we show different time frames showing contrasting indicators. Also, the shorter time frames are the only representative of the short term trading. Thanks for watching and know that every few hours new videos are uploaded analyzing different cryptocurrencies. So be sure to hit, subscribe and not miss out if you have any questions. Leave a comment below and we’ll get back to you A.S.A.P. Also, keep in mind that you should make your own investment decisions as cryptocurrency trading is very risky and these daily videos are only an overview of trends and are purely technical analysis without considering the fundamentals. See you next time.

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