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 breaking the upper band reaching $11.95k
  • Price volatility was high. The market moved ~3.75%, between $11.95k and $11.52k

Today’s Trend analysis

  • BTCUSD expected to see a slight uptrend as the price is trading between upper and midline band with Bollinger band expanding
  • Price at time of publishing: $11,916
  • BTC’s market cap: $220 Billion
  • Oscillator indicators are mostly neutral. RSI at 68
  • Moving average indicators are indicating an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed an increase in the recent candles with a spike observed for a blue candle

Price expected to see a slight uptrend as the price is trading between upper and midline band with Bollinger band expanding. Most of the Oscillator indicators are neutral. MACD moving above the signal line, with histogram size increasing in the positive direction. RSI at 68, above to the midline still in the neutral region. CCI at around 197, in the overbought region with a slight donwmove indicating a downtrend. Another interesting point to notice here is that the volume in the recent candles saw an increase with a spike for a blue candle suggesting a strong buying pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 197 in the overbought region. RSI above the midline around 68 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
254
NameValueAction
Relative Strength Index (14)68.08Neutral
Stochastic %K (14, 3, 3)85.27Neutral
Commodity Channel Index (20)197.80Sell
Average Directional Index (14)17.70Neutral
Awesome Oscillator207.22Buy
Momentum (10)271.71Buy
MACD Level (12, 26)83.92Buy
Stochastic RSI Fast (3, 3, 14, 14)85.64Neutral
Williams Percent Range (14)−11.16Sell
Bull Bear Power391.98Neutral
Ultimate Oscillator (7, 14, 28)70.02Buy

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
0116

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)11815.99Buy
Simple Moving Average (5)11782.97Buy
Exponential Moving Average (10)11750.41Buy
Simple Moving Average (10)11736.61Buy
Exponential Moving Average (20)11674.01Buy
Simple Moving Average (20)11648.15Buy
Exponential Moving Average (30)11635.23Buy
Simple Moving Average (30)11573.44Buy
Exponential Moving Average (50)11614.13Buy
Simple Moving Average (50)11551.13Buy
Exponential Moving Average (100)11594.99Buy
Simple Moving Average (100)11685.46Buy
Exponential Moving Average (200)11359.17Buy
Simple Moving Average (200)11616.32Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)11664.58Neutral
Volume Weighted Moving Average (20)11704.34Buy
Hull Moving Average (9)11848.2Buy

Trade volume

In recent few candles, the volume observed an increase in the recent candles with a spike at the blue candle, from 1.3k to 2.67k being above the 20-candle moving average which increased from 1.15k to 1.29k.


About Mudrex

Mudrex platform helps traders build no-code Algo trading bots using Technical analysis based indicators.

Mudrex Invest is a collection of reviewed and verified funds created by professional traders on Mudrex. Traders create these funds using their trading bots. Individual investors can invest in them for a monthly fee and gain the benefits of passive investing!
Signup today: https://mudrex.com/