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 downtrend followed by midline support to consolidate
  • Price volatility was very high. The market moved ~9.33%, between $11.08k and $10.13k

Today’s Trend analysis

  • BTCUSD expected to see a potential breakout as price is trading inside bands with double bottom expected
  • Price at time of publishing: $10,711
  • BTC’s market cap: $198 Billion
  • Oscillator indicators are mostly neutral. RSI at 49
  • Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed an increase in volume except for a spike for a sudden price decline

Price expected to see a potential breakout as price is trading inside bands with double bottom expected. Most of the Oscillator indicators are neutral. MACD moving above the signal line with histogram size increasing in the positive direction suggesting a bullish bias. RSI at 49, close to the midline, still in the neutral region. CCI is around 34, also in the neutral. Another interesting point to notice here is that Bollinger band squeezes and the volumes observed an increase in volume except a spine for a sudden price decline suggesting a shift from sellers to buyers.

BTCUSD 1D price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI is around 31, in the neutral region. RSI close to the midline with a value of 50 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
092
NameValueAction
Relative Strength Index (14)49.09Neutral
Stochastic %K (14, 3, 3)55.21Neutral
Commodity Channel Index (20)31.65Neutral
Average Directional Index (14)18.38Neutral
Awesome Oscillator−285.33Neutral
Momentum (10)−240.08Buy
MACD Level (12, 26)−85.52Buy
Stochastic RSI Fast (3, 3, 14, 14)62.49Neutral
Williams Percent Range (14)−45.14Neutral
Bull Bear Power144.31Neutral
Ultimate Oscillator (7, 14, 28)51.7Neutral

Moving Average Indicators

Moving average (MA) indicators indicate 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
6110

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)10657.39Buy
Simple Moving Average (5)10582.6Buy
Exponential Moving Average (10)10661.74Buy
Simple Moving Average (10)10719.67Sell
Exponential Moving Average (20)10711.89Sell
Simple Moving Average (20)10592.74Buy
Exponential Moving Average (30)10773.7Sell
Simple Moving Average (30)10753.11Sell
Exponential Moving Average (50)10782.69Sell
Simple Moving Average (50)11137.06Sell
Exponential Moving Average (100)10465.14Buy
Simple Moving Average (100)10462.22Buy
Exponential Moving Average (200)9836.49Buy
Simple Moving Average (200)9250.19Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)10945.45Neutral
Volume Weighted Moving Average (20)10543.57Buy
Hull Moving Average (9)10594.29Buy

Trade volume

In the last few candles, there was an increase from 5.7k to 9.6k except for a spike observed at 14.9k for a sudden price decline being below the 20-candle moving average which declined from 13.1k to 9.6k.


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