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 4 hr candles.

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


Analysis Summary

Market in last 24hrs

  • BTCUSD saw a downtrend after rejecting from Upper Bollinger Band
  • Price volatility was high. The market moved ~3.17%, between $12.02k and $11.65k

Today’s Trend analysis

  • BTCUSD expected to see a downtrend further as lower highs have been observed
  • Price at time of publishing: $11,750
  • BTC’s market cap: $217 Billion
  • Oscillator indicators are mostly neutral. RSI at 50.
  • Moving average indicators are biased towards a downtrend. Ichimoku Cloud is neutral
  • Volume indicators observed a decrease in volume as red candles were observed indicating high volatility

Price expected to see a downtrend after rejecting from Bollinger Band as lower highs have been observed. Most of the Oscillator indicators are neutral. MACD crossed below signal line with histogram increasing in size in negative driection.  RSI at 50, around midline with a downmove in the neutral region. CCI at -8, in the neutral region, got back from overbought region with a value of 140. Another interesting point to notice here is that the volume is decreasing as red candles are observed indicating high volatility suggesting a downtrend continuation.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -13, in the neutral region. RSI around the midline around 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
191
NameValueAction
Relative Strength Index (14)50.65Neutral
Stochastic %K (14, 3, 3)48.62Neutral
Commodity Channel Index (20)−13.44Neutral
Average Directional Index (14)20.59Neutral
Awesome Oscillator95.04Neutral
Momentum (10)124.30Buy
MACD Level (12, 26)57.89Sell
Stochastic RSI Fast (3, 3, 14, 14)24.47Neutral
Williams Percent Range (14)−56.74Neutral
Bull Bear Power−168.27Neutral
Ultimate Oscillator (7, 14, 28)56.82Neutral

Moving Average Indicators

Moving average (MA) indicators a slight downtrend. 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
917
NameValueAction
Exponential Moving Average (5)11805.00Sell
Simple Moving Average (5)11825.70Sell
Exponential Moving Average (10)11809.94Sell
Simple Moving Average (10)11852.61Sell
Exponential Moving Average (20)11774.87Sell
Simple Moving Average (20)11775.49Sell
Exponential Moving Average (30)11726.45Buy
Simple Moving Average (30)11757.04Sell
Exponential Moving Average (50)11599.12Buy
Simple Moving Average (50)11611.45Buy
Exponential Moving Average (100)11206.82Buy
Simple Moving Average (100)11273.37Buy
Exponential Moving Average (200)10622.81Buy
Simple Moving Average (200)10277.75Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)11649.50Neutral
Volume Weighted Moving Average (20)11808.41Sell
Hull Moving Average (9)11781.68Sell

Trade volume

In recent few candles, the volume has been decreasing as the price falls. Indicates low volatility and suggests downtrend will continue further. The volume moved from 3.93k to 1.99k while the 20-candle moving average decreased from 2.52k to 2.1k.


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