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 with relatively low volume
  • Price volatility was low. The market moved ~2.5%, between $11.8k and $11.5k

Today’s Trend analysis

  • BTCUSD expected to see an uptrend as potential breakout is expected owing to double bottoms being observed
  • Price at time of publishing: $11,787
  • BTC’s market cap: $217 Billion
  • Oscillator indicators are mostly neutral. RSI at 56
  • Moving average indicators are indicating towards an 4uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed were relatively low and had similar value

Price expected to see an uptrend as double bottom is observed suggesting a potential breakout. Most of the Oscillator indicators are neutral. MACD crossed above the signal line, with histogram size increasing in the positive direction. RSI at 56, above the midline still in the neutral region with an up move. CCI at 133, in the overbought region, suggesting a downtrend. Another interesting point to notice here is that the volume in the recent candles was having a similar value being relatively low, confirming the double bottom formation.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 135 in the overbought region. RSI above the midline around 56 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
272
NameValueAction
Relative Strength Index (14)56.04Neutral
Stochastic %K (14, 3, 3)91.37Neutral
Commodity Channel Index (20)135.82Neutral
Average Directional Index (14)24.29Buy
Awesome Oscillator−14.97Neutral
Momentum (10)194.42Sell
MACD Level (12, 26)−19.65Buy
Stochastic RSI Fast (3, 3, 14, 14)100.00Neutral
Williams Percent Range (14)−9.95Sell
Bull Bear Power228.05Neutral
Ultimate Oscillator (7, 14, 28)61.76Neutral

Moving Average Indicators

Moving average (MA) indicators are indicating an 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
1115

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)11721.68Buy
Simple Moving Average (5)11710.89Buy
Exponential Moving Average (10)11686.33Buy
Simple Moving Average (10)11664.47Buy
Exponential Moving Average (20)11687.84Buy
Simple Moving Average (20)11645.87Buy
Exponential Moving Average (30)11710.05Buy
Simple Moving Average (30)11691.67Buy
Exponential Moving Average (50)11732.94Buy
Simple Moving Average (50)11815.10Sell
Exponential Moving Average (100)11642.37Buy
Simple Moving Average (100)11759.03Buy
Exponential Moving Average (200)11239.79Buy
Simple Moving Average (200)11270.71Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)11630.56Neutral
Volume Weighted Moving Average (20)11650.51Buy
Hull Moving Average (9)11758.31Buy

Trade volume

In recent few candles, the volume observed was relatively low and had a similar value of around 880 that is below the 20-candle moving average that decreased from 1.8k to 1.5k


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