This is BTCUSD daily price analysis, provided by Mudrex (automated crypto investing platform). This 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 1D candles.

You can find price analysis from previous days on blog here and on Tradingview here.


Analysis Summary

Market in last 1 week

  • BTCUSD saw a slight uptrend and then moved sideways
  • Price volatility was very high. The market moved ~7.81%, between $11.99k and $11.12k

Today’s Trend analysis

  • BTCUSD expected to see a sideways movement as Bollinger Band squeezes
  • Price at time of publishing: $11,857
  • BTC’s market cap: $219 Billion
  • Oscillator indicators are mostly neutral. RSI at 65
  • Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed a decrease in the last few candles with a constant increase in the 20-candle moving average

Price expected to see a sideways movement as Bollinger Band squeezes after the gap up that was observed. Most of the Oscillator indicators are neutral. MACD crossed below the signal line with histogram size increasing in the negative direction suggesting a bearish bias. RSI at 65, above the midline, still in the neutral region. CCI is around 90, also in the neutral region. Another interesting point to notice here is that the volumes increased at the starting of gap and down which was pretty higher than normal and now has started to decrease back to the normal level.

BTCUSD 1D price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI is around 90, in the neutral region. RSI above the midline with a value of around 65 in the neutral region.

Definition:- Oscillator indicators are based on market’s property that what goes up must come down. Reversion to the mean is one of the most fundamental properties of any market. Oscillators are predictive in nature, specifying future price momentum.

SellNeutralBuy
191
NameValueAction
Relative Strength Index (14)65.31Neutral
Stochastic %K (14, 3, 3)81.83Neutral
Commodity Channel Index (20)90.21Neutral
Average Directional Index (14)35.57Neutral
Awesome Oscillator1058.14Neutral
Momentum (10)132.26Buy
MACD Level (12, 26)477.83Sell
Stochastic RSI Fast (3, 3, 14, 14)27.92Neutral
Williams Percent Range (14)−13.80Neutral
Bull Bear Power636.99Neutral
Ultimate Oscillator (7, 14, 28)62.41Neutral

Moving Average Indicators

Moving average (MA) indicators are biased towards an uptrend. Ichimoku Cloud is neutral and Hull MA is indicating a buying opportunity.

Definition:- Moving Average indicators are lagging indicators that help catch trends when they are beginning to take effect. The idea is to buy when the trend is moving up and sell when the trend is falling.

SellNeutralBuy
0116

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)11763.99Buy
Simple Moving Average (5)11683.70Buy
Exponential Moving Average (10)11652.93Buy
Simple Moving Average (10)11714.45Buy
Exponential Moving Average (20)11315.81Buy
Simple Moving Average (20)11489.16Buy
Exponential Moving Average (30)10995.47Buy
Simple Moving Average (30)10808.10Buy
Exponential Moving Average (50)10534.81Buy
Simple Moving Average (50)10164.20Buy
Exponential Moving Average (100)9861.81Buy
Simple Moving Average (100)9793.73Buy
Exponential Moving Average (200)9243.48Buy
Simple Moving Average (200)8902.43Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)10626.12Neutral
Volume Weighted Moving Average (20)11370.71Buy
Hull Moving Average (9)11781.21Buy

Trade volume

In the last few candles, there was a decrease in volume observed with a constant increase in the 20-candle moving average with the volume decreasing from 22.12k to 5.54k with the 20-candle moving average increasing from 16.69k to 17.51k.


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