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 an uptrend and moved above the midline band
  • Price volatility was high. The market moved ~4.05%, between $11.85k and $11.38k

Today’s Trend analysis

  • BTCUSD expected to see a sideways movement as a series of trendlines were observed
  • Price at time of publishing: $11,763
  • BTC’s market cap: $217 Billion
  • Oscillator indicators are mostly neutral. RSI at 54.
  • Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed a spike when the price had risen and further the volume decreased

Price expected to see a sideways movement as a series of higher highs, lower highs, higher lows and lower lows were observed. Most of the Oscillator indicators are neutral. MACD crossed above the signal line with histogram increasing in size in a positive direction.  RSI at 54, above the midline still in the neutral region. CCI at 102, in the overbought region, with an upmove. Another interesting point to notice here is that the price has been trading inside the Bollinger band from last many candles.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 102, in the overbought region. RSI above the midline around 56 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
362
NameValueAction
Relative Strength Index (14)56.20Neutral
Stochastic %K (14, 3, 3)83.64Sell
Commodity Channel Index (20)102.66Neutral
Average Directional Index (14)29.10Neutral
Awesome Oscillator32.37Buy
Momentum (10)161.29Sell
MACD Level (12, 26)11.68Buy
Stochastic RSI Fast (3, 3, 14, 14)82.93Sell
Williams Percent Range (14)−15.66Neutral
Bull Bear Power161.51Neutral
Ultimate Oscillator (7, 14, 28)68.33Neutral

Moving Average Indicators

Moving average (MA) indicators a slight uptrend. 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
1115

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)11699.30Buy
Simple Moving Average (5)11703.11Buy
Exponential Moving Average (10)11653.44Buy
Simple Moving Average (10)11623.65Buy
Exponential Moving Average (20)11634.12Buy
Simple Moving Average (20)11574.91Buy
Exponential Moving Average (30)11630.78Buy
Simple Moving Average (30)11657.35Buy
Exponential Moving Average (50)11587.10Buy
Simple Moving Average (50)11680.85Buy
Exponential Moving Average (100)11315.16Buy
Simple Moving Average (100)11485.32Buy
Exponential Moving Average (200)10777.18Buy
Simple Moving Average (200)10485.51Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)11603.12Neutral
Volume Weighted Moving Average (20)11556.14Buy
Hull Moving Average (9)11794.43Sell

Trade volume

In recent few candles, the volume increased as the price had risen and then decreased in recent candles. The traded volume was between 4.69k and 964 with the 20-candle average being between 2.8k and 2.61k.


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