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 and decreased thereafter
  • Price volatility was high. The market moved ~2.53%, between $11.54k and $11.25k

Today’s Trend analysis

  • BTCUSD expected to see a downtrend as potential head and shoulder pattern expected
  • Price at time of publishing: $11,351
  • 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 decreased for red candles suggesting weak selling pressure

Price expected to see a downtrend as potential head and shoulder patterns expected with left shoulder and head formation completed. 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 around -70, in the neutral region with a down move. Another interesting point to notice here is that the volume in the recent red candles was decreasing suggesting weak selling pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -52 in the neutral region. RSI below the midline around 40 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
290
NameValueAction
Relative Strength Index (14)40.90Neutral
Stochastic %K (14, 3, 3)44.51Neutral
Commodity Channel Index (20)−52.71Neutral
Average Directional Index (14)32.63Neutral
Awesome Oscillator−115.66Neutral
Momentum (10)103.82Sell
MACD Level (12, 26)−74.14Sell
Stochastic RSI Fast (3, 3, 14, 14)58.99Neutral
Williams Percent Range (14)−50.81Neutral
Bull Bear Power−92.45Neutral
Ultimate Oscillator (7, 14, 28)57.75Neutral

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
1511

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)11413.88Sell
Simple Moving Average (5)11425.92Sell
Exponential Moving Average (10)11433.66Sell
Simple Moving Average (10)11404.66Sell
Exponential Moving Average (20)11488.76Sell
Simple Moving Average (20)11522.43Sell
Exponential Moving Average (30)11536.54Sell
Simple Moving Average (30)11557.56Sell
Exponential Moving Average (50)11599.85Sell
Simple Moving Average (50)11626.48Sell
Exponential Moving Average (100)11594.39Sell
Simple Moving Average (100)11714.02Sell
Exponential Moving Average (200)11280.84Buy
Simple Moving Average (200)11449.64Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)11472.65Neutral
Volume Weighted Moving Average (20)11476.45Sell
Hull Moving Average (9)11411.42Sell

Trade volume

In recent few candles, the volume observed a decrease as red candles were seen from 2.85k to 671 suggesting a weak selling pressure with the 20-candle moving average increasing from 1.56k to 1.65k.


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