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 strong uptrend after rejecting from $12473
  • Price volatility was high. The market moved ~5.6%, between $12.47k and $11.81k

Today’s Trend analysis

  • BTCUSD expected to see a slight downtrend as Bollinger band expands with lower highs
  • Price at time of publishing: $12,213
  • BTC’s market cap: $226 Billion
  • Oscillator indicators are mostly neutral. RSI at 65
  • Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed a sudden spike and decreased thereafter

Price expected to see a slight downtrend as Bollinger band expands with lower highs observed. Most of the Oscillator indicators are neutral. MACD above the signal line with histogram decreasing in size in a positive direction.  RSI at 65, above the midline still in the neutral region. CCI at 93, in the neutral region, saw a pullback from 445 i.e. from the overbought region. Another interesting point to notice here is that the volume saw a sudden spike with a large blue candle and a decrease thereafter.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 93 in the neutral region. RSI above the midline around 65 still in the neutral region.

Definition:- Oscillator indicators are based on the 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
182
NameValueAction
Relative Strength Index (14)65.31Neutral
Stochastic %K (14, 3, 3)76.88Neutral
Commodity Channel Index (20)93Neutral
Average Directional Index (14)23.01Neutral
Awesome Oscillator467.34Buy
Momentum (10)471.93Sell
MACD Level (12, 26)150.64Buy
Stochastic RSI Fast (3, 3, 14, 14)67.31Neutral
Williams Percent Range (14)−22.94Neutral
Bull Bear Power235.63Neutral
Ultimate Oscillator (7, 14, 28)65.32Neutral

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
2114

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)12261.80Buy
Simple Moving Average (5)12302.13Sell
Exponential Moving Average (10)12172.35Buy
Simple Moving Average (10)12141.79Buy
Exponential Moving Average (20)12042.57Buy
Simple Moving Average (20)11997.45Buy
Exponential Moving Average (30)11961.33Buy
Simple Moving Average (30)11908.03Buy
Exponential Moving Average (50)11850.17Buy
Simple Moving Average (50)11800.23Buy
Exponential Moving Average (100)11572.44Buy
Simple Moving Average (100)11665.38Buy
Exponential Moving Average (200)11033.55Buy
Simple Moving Average (200)10813.49Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)12062.51Neutral
Volume Weighted Moving Average (20)12157.45Buy
Hull Moving Average (9)12365.55Sell

Trade volume

In recent few candles, the volume saw a sudden spike of 5.23k as a large blue candle saw seen and thereafter the volume decreased to 579 with a slight increase in the 20-candle moving average 637 to 880s.


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