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 an uptrend and then rejected from upper band moved downwards
  • Price volatility was very high. The market moved ~9.82%, between $12.49k and $11.37k

Today’s Trend analysis

  • BTCUSD expected to see a sideways movement as price rejected from the upper band with lower highs observed
  • Price at time of publishing: $11,441
  • BTC’s market cap: $211 Billion
  • Oscillator indicators are mostly neutral. RSI at 51
  • Moving average indicators are mostly neutral. Ichimoku Cloud is neutral
  • Volume indicators observed a decrease in volume with the lows being observed with blue candles, indicating a weak buying pressure

Price expected to see a sideways movement as price rejected from the upper band with lower highs observed. Most of the Oscillator indicators are neutral. MACD moving below the signal line with histogram size increasing in the negative direction suggesting a bearish bias. RSI at 51, around the midline, still in the neutral region. CCI is around -95, also in the neutral region with a down move. Another interesting point to notice here is that the volumes observe a decrease as the price had fallen with the 20-candle moving average decreasing.

BTCUSD 1D price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI is around -85, in the neutral region. RSI around the midline with a value of 51 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)51.41Neutral
Stochastic %K (14, 3, 3)35.86Neutral
Commodity Channel Index (20)−87.43Neutral
Average Directional Index (14)33.40Neutral
Awesome Oscillator665.48Neutral
Momentum (10)−121.75Buy
MACD Level (12, 26)304.51Sell
Stochastic RSI Fast (3, 3, 14, 14)4.07Neutral
Williams Percent Range (14)−76.65Neutral
Bull Bear Power−440.15Neutral
Ultimate Oscillator (7, 14, 28)53.01Neutral

Moving Average Indicators

Moving average (MA) indicators are mostly neutral. Ichimoku Cloud is neutral and Hull MA is indicating a selling 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
818

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)11659.02Sell
Simple Moving Average (5)11710.07Sell
Exponential Moving Average (10)11712.94Sell
Simple Moving Average (10)11818.80Sell
Exponential Moving Average (20)11547.43Sell
Simple Moving Average (20)11702.80Sell
Exponential Moving Average (30)11291.85Buy
Simple Moving Average (30)11390.47Buy
Exponential Moving Average (50)10844.17Buy
Simple Moving Average (50)10541.98Buy
Exponential Moving Average (100)10116.32Buy
Simple Moving Average (100)9975.14Buy
Exponential Moving Average (200)9417.26Buy
Simple Moving Average (200)8989.72Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)11516.30Neutral
Volume Weighted Moving Average (20)11716.88Sell
Hull Moving Average (9)11551.92Sell

Trade volume

In the last few candles, there was a decrease in volume observed with the traded volume being in between 23.7k 8.8k with the 20-candle moving average decreasing from 17.9k to 14.5k


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