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 with price moving below the midline
  • Price volatility was high. The market moved ~5.87%, between $12.29k and $11.61k

Today’s Trend analysis

  • BTCUSD expected to see an uptrend as price got support from lower band with a green cloud formation
  • Price at time of publishing: $11,831
  • BTC’s market cap: $218 Billion
  • Oscillator indicators are mostly neutral. RSI at 45
  • Moving average indicators are biased towards a downtrend. Ichimoku Cloud is neutral
  • Volume indicators observed a sudden spike with a larger red candle and decreased thereafter

Price expected to see an uptrend as Ichimoku cloud forms a green cloud. Most of the Oscillator indicators are neutral. MACD crossed below the signal line with histogram increasing in size in the negative direction.  RSI at 45, below the midline still in the neutral region. CCI at -60, in the neutral region, with a downmove. Another interesting point to notice here is that the price saw a support from the lower band suggesting the price to move upwards.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -55 in the neutral region. RSI below the midline around 45 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
380
NameValueAction
Relative Strength Index (14)45.30Neutral
Stochastic %K (14, 3, 3)21.10Neutral
Commodity Channel Index (20)−55.89Neutral
Average Directional Index (14)22.25Neutral
Awesome Oscillator−26.43Sell
Momentum (10)−492.39Sell
MACD Level (12, 26)23.20Sell
Stochastic RSI Fast (3, 3, 14, 14)1.66Neutral
Williams Percent Range (14)−71.73Neutral
Bull Bear Power−337.17Neutral
Ultimate Oscillator (7, 14, 28)45.35Neutral

Moving Average Indicators

Moving average (MA) indicators a slight downtrend. 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
1016

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)11896.96Sell
Simple Moving Average (5)11890.05Sell
Exponential Moving Average (10)11962.02Sell
Simple Moving Average (10)12045.01Sell
Exponential Moving Average (20)11967.55Sell
Simple Moving Average (20)11999.83Sell
Exponential Moving Average (30)11933.74Sell
Simple Moving Average (30)11948.91Sell
Exponential Moving Average (50)11856.23Sell
Simple Moving Average (50)11799.99Buy
Exponential Moving Average (100)11607.13Buy
Simple Moving Average (100)11692.63Buy
Exponential Moving Average (200)11082.82Buy
Simple Moving Average (200)10896.60Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)12036.50Neutral
Volume Weighted Moving Average (20)12073.17Sell
Hull Moving Average (9)11770.23Buy

Trade volume

In recent few candles, the volume saw a sudden spike of 7.03k in the larger red candle decreasing to 3.5k to 1.89k thereafter being above the 20-candle moving average with the 20-candle moving average increasing from 2.68k to 2.89k.


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