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 rejection from the midline band
  • Price volatility was low. The market moved ~1.3%, between $11.9k and $11.7k

Today’s Trend analysis

  • BTCUSD expected to see a downward movement as the price got rejected from midline band
  • Price at time of publishing: $11,754
  • BTC’s market cap: $217 Billion
  • Oscillator indicators are mostly neutral. RSI at 44
  • Moving average indicators are indicating towards a down trend. Ichimoku Cloud is neutral
  • Volume indicators observed an increase and observed a spike with a red candle

Price expected to see a downward movement as the price got rejected from midline band. Most of the Oscillator indicators are neutral. MACD almost reached the signal line, with histogram changing it’s direction from negative to positive. RSI at 44, below the midline still in the neutral region. CCI at -65, in the neutral region, with a down move. Another interesting point to notice here is that the volume in the recent candles was increasing with a spike at the red candle.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -69 in the neutral region. RSI below the midline around 43 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
470
NameValueAction
Relative Strength Index (14)43.72Neutral
Stochastic %K (14, 3, 3)54.32Neutral
Commodity Channel Index (20)−69.85Neutral
Average Directional Index (14)23.20Neutral
Awesome Oscillator−76.51Sell
Momentum (10)103.35Sell
MACD Level (12, 26)−28.78Sell
Stochastic RSI Fast (3, 3, 14, 14)76.01Neutral
Williams Percent Range (14)−49.41Neutral
Bull Bear Power−66.50Sell
Ultimate Oscillator (7, 14, 28)59.80Neutral

Moving Average Indicators

Moving average (MA) indicators are indicating a 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
1313

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)11811.29Sell
Simple Moving Average (5)11833.73Sell
Exponential Moving Average (10)11821.82Sell
Simple Moving Average (10)11803.22Sell
Exponential Moving Average (20)11849.91Sell
Simple Moving Average (20)11863.35Sell
Exponential Moving Average (30)11857.43Sell
Simple Moving Average (30)11926.83Sell
Exponential Moving Average (50)11831.58Sell
Simple Moving Average (50)11860.55Sell
Exponential Moving Average (100)11645.86Buy
Simple Moving Average (100)11758.83Sell
Exponential Moving Average (200)11162.46Buy
Simple Moving Average (200)11054.62Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)12023.70Neutral
Volume Weighted Moving Average (20)11865.84Sell
Hull Moving Average (9)11837.74Sell

Trade volume

In recent few candles, the volume saw an increase with a spike observed at the red candle, the traded volume was between 963 and 2.5k with a steep decrease in 20-candle moving average from 3.03k to 2.3k.


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