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 price consolidated with getting support from lower band
  • Price volatility was high. The market moved ~4.62%, between $11.6k and $11.1k

Today’s Trend analysis

  • BTCUSD expected to see an uptrend as got support from lower band with Bollinger band expanding
  • Price at time of publishing: $11,391
  • BTC’s market cap: $210 Billion
  • Oscillator indicators are mostly neutral. RSI at 38
  • Moving average indicators are indicating a downtrend. Ichimoku Cloud is neutral
  • Volume indicators observed high value for red candles suggesting strengthened selling pressure.

Price expected to see an uptrend as got support from lower band with Bollinger band expanding as the price is trading between the bands. Most of the Oscillator indicators are neutral. MACD below the signal line, with histogram size decreasing in negative direction. RSI at 38, below the midline still in the neutral region. CCI at -83, in the neutral region with an up move. Another interesting point to notice here is that the volume in the recent red candles was high suggesting strong selling pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -83 in the neutral region with an up move. RSI below the midline around 38 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
191
NameValueAction
Relative Strength Index (14)37.63Neutral
Stochastic %K (14, 3, 3)35.86Neutral
Commodity Channel Index (20)−83.89Neutral
Average Directional Index (14)35.10Neutral
Awesome Oscillator−251.63Neutral
Momentum (10)−377.90Buy
MACD Level (12, 26)−94.97Sell
Stochastic RSI Fast (3, 3, 14, 14)24.86Neutral
Williams Percent Range (14)−62.33Neutral
Bull Bear Power−172.50Neutral
Ultimate Oscillator (7, 14, 28)53.00Neutral

Moving Average Indicators

Moving average (MA) indicators are indicating a 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
1313

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)11386.59Sell
Simple Moving Average (5)11362.82Buy
Exponential Moving Average (10)11440.85Sell
Simple Moving Average (10)11439.33Sell
Exponential Moving Average (20)11522.22Sell
Simple Moving Average (20)11571.02Sell
Exponential Moving Average (30)11574.68Sell
Simple Moving Average (30)11577.17Sell
Exponential Moving Average (50)11634.67Sell
Simple Moving Average (50)11679.96Sell
Exponential Moving Average (100)11610.15Sell
Simple Moving Average (100)11737.56Sell
Exponential Moving Average (200)11272.39Buy
Simple Moving Average (200)11402.64Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)11472.65Neutral
Volume Weighted Moving Average (20)11501.00Sell
Hull Moving Average (9)11343.56Buy

Trade volume

In recent few candles, the volume observed was high for red candles suggesting a strengthened selling pressure. The traded volume was between 764 and 4.95k with the 20-candle moving average increasing from 1.03k to 1.47k.


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