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 rejection from the upper band
  • Price volatility was high. The market moved ~8.29%, between $12.08k and $11.16k

Today’s Trend analysis

  • BTCUSD expected to see a slight downtrend as the price got rejected from upper band with lower highs observed
  • Price at time of publishing: $11,358
  • BTC’s market cap: $210 Billion
  • Oscillator indicators are mostly neutral. RSI at 36
  • Moving average indicators are indicating a downtrend. Ichimoku Cloud is neutral
  • Volume indicators observed a decrease in the recent red candles being above the 20-candle moving average

Price expected to see a slight downtrend as the price got rejected from upper band with lower highs observed. Most of the Oscillator indicators are neutral. MACD crossed below the signal line, with histogram changing direction from positive to the negative direction. RSI at 36, below to the midline still in the neutral region. CCI at around -86, in the neutral region pulled back from overbought region indicating a downtrend. Another interesting point to notice here is that the volume in the recent red candles saw a decrease suggesting a weakening selling pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -200 in the oversold region. RSI below the midline around 36 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
281
NameValueAction
Relative Strength Index (14)36.57Neutral
Stochastic %K (14, 3, 3)40.11Neutral
Commodity Channel Index (20)−204.84Neutral
Average Directional Index (14)19.31Neutral
Awesome Oscillator205.14Neutral
Momentum (10)−362.44Buy
MACD Level (12, 26)45.9Sell
Stochastic RSI Fast (3, 3, 14, 14)3.45Neutral
Williams Percent Range (14)−76.73Neutral
Bull Bear Power−570.43Sell
Ultimate Oscillator (7, 14, 28)42.16Neutral

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
1610

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)11679.97Sell
Simple Moving Average (5)11764.48Sell
Exponential Moving Average (10)11741.13Sell
Simple Moving Average (10)11802.56Sell
Exponential Moving Average (20)11718.51Sell
Simple Moving Average (20)11733.47Sell
Exponential Moving Average (30)11684.35Sell
Simple Moving Average (30)11663.01Sell
Exponential Moving Average (50)11652.37Sell
Simple Moving Average (50)11558.19Sell
Exponential Moving Average (100)11618.18Sell
Simple Moving Average (100)11683.04Sell
Exponential Moving Average (200)11385.04Sell
Simple Moving Average (200)11639.87Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)11610.57Neutral
Volume Weighted Moving Average (20)11726.83Sell
Hull Moving Average (9)11652.89Sell

Trade volume

In the recent few candles, the volume observed a decrease as the red candles were observed from 3.64k to 979 being above the 20-candle moving average from 1.44k to 1.69k.


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