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 after the price got rejected from the upper Bollinger band
  • Price volatility was low. The market moved ~2.6%, between $11.82k and $11.51k

Today’s Trend analysis

  • BTCUSD expected to see a downtrend and get support from lower band to see uptrend further
  • Price at time of publishing: $11,595
  • BTC’s market cap: $214 Billion
  • Oscillator indicators are mostly neutral. RSI at 41
  • Moving average indicators are indicating a downtrend. Ichimoku Cloud is neutral
  • Volume indicators observed were relatively low and decreased in the recent candles

Price expected to see a downtrend and get support from the lower band to see uptrend further as the price is trading between the bands. Most of the Oscillator indicators are neutral. MACD crossed below the signal line, with histogram changing direction from positive to negative. RSI at 41, below the midline still in the neutral region. CCI at -81, in the neutral region with a down move. Another interesting point to notice here is that the volume in the recent candles was relatively low and saw a decrease.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -81 in the neutral region with a down move. RSI below the midline around 41 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)41.05Neutral
Stochastic %K (14, 3, 3)26.92Neutral
Commodity Channel Index (20)−81.70Neutral
Average Directional Index (14)21.10Neutral
Awesome Oscillator−8.65Sell
Momentum (10)−106.45Buy
MACD Level (12, 26)−22.48Sell
Stochastic RSI Fast (3, 3, 14, 14)20.36Neutral
Williams Percent Range (14)−81.07Buy
Bull Bear Power−223.19Neutral
Ultimate Oscillator (7, 14, 28)45.02Neutral

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
1412

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)11639.45Sell
Simple Moving Average (5)11665.27Sell
Exponential Moving Average (10)11664.77Sell
Simple Moving Average (10)11696.33Sell
Exponential Moving Average (20)11679.14Sell
Simple Moving Average (20)11653.31Sell
Exponential Moving Average (30)11697.83Sell
Simple Moving Average (30)11681.95Sell
Exponential Moving Average (50)11720.90Sell
Simple Moving Average (50)11795.62Sell
Exponential Moving Average (100)11646.53Sell
Simple Moving Average (100)11759.97Sell
Exponential Moving Average (200)11265.45Buy
Simple Moving Average (200)11339.05Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)11621.83Neutral
Volume Weighted Moving Average (20)11652.89Sell
Hull Moving Average (9)11596.50Sell

Trade volume

In recent few candles, the volume observed was relatively low and decreased in the recent candles from 1.6k to 460, being less than 20-candle moving average which decreased from 1.47k to 1.02k.


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