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 sideways movement with getting resistance and support from midline and lower band resectively
  • Price volatility was high. The market moved ~3.44%, between $11.66k and $11.27k

Today’s Trend analysis

  • BTCUSD expected to see a slight uptrend further as it got support from Lower Bollinger Band
  • Price at time of publishing: $11,576
  • BTC’s market cap: $214 Billion
  • Oscillator indicators are mostly neutral. RSI at 48.
  • Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed ups and downs as price moved sideways being below the 20-candle moving average

Price expected to see a slight uptrend as lower band and midline band acting as support resistance levles. Most of the Oscillator indicators are neutral. MACD approaching the signal line from below with histogram decreasing in size in negative direction.  RSI at 48, below midline with an upmove in the neutral region. CCI at -18, in the neutral region, got back from oversold region with an upmove. Another interesting point to notice here is that the the volume saw ups and downs as price moved sideways but being below the 20-candle moving average.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -21, in the neutral region with an up move. RSI below the midline around 48 still 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
380
NameValueAction
Relative Strength Index (14)48.68Neutral
Stochastic %K (14, 3, 3)54.70Neutral
Commodity Channel Index (20)−21.74Neutral
Average Directional Index (14)33.29Neutral
Awesome Oscillator−103.64Sell
Momentum (10)192.17Sell
MACD Level (12, 26)−39.31Sell
Stochastic RSI Fast (3, 3, 14, 14)60.39Neutral
Williams Percent Range (14)−38.55Neutral
Bull Bear Power−244.43Neutral
Ultimate Oscillator (7, 14, 28)64.58Neutral

Moving Average Indicators

Moving average (MA) indicators a slight 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)11557.52Buy
Simple Moving Average (5)11565.13Buy
Exponential Moving Average (10)11560.64Buy
Simple Moving Average (10)11511.45Buy
Exponential Moving Average (20)11596.30Sell
Simple Moving Average (20)11639.98Sell
Exponential Moving Average (30)11608.92Sell
Simple Moving Average (30)11670.83Sell
Exponential Moving Average (50)11564.28Buy
Simple Moving Average (50)11670.68Sell
Exponential Moving Average (100)11270.17Buy
Simple Moving Average (100)11446.32Buy
Exponential Moving Average (200)10722.19Buy
Simple Moving Average (200)10412.65Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)11605.00Neutral
Volume Weighted Moving Average (20)11617.71Sell
Hull Moving Average (9)11579.71Buy

Trade volume

In recent few candles, the volume has seen ups and downs as the price moved sideways being below the 20-candle moving average. The traded volume was between 2.77k and 1.28k while the 20-candle moving average moved from 2.82k to 2.72k.


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